The Rupee opened on a flat note at 74.83 against the U.S. Dollar on Thursday, unchanged from its previous close even as the domestic equity market was trading in the positive territory.
After opening flat, the local unit was later trading at 74.85, down 2 paise over its previous close of 74.83 against U.S. Dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.17% to 93.28.
Investors are awaiting CPI data scheduled to be released later in the day for further cues, forex traders said.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 86.06 points higher at 38,455.69 and the broader NSE Nifty rose 39.50 points to 11,347.90.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹351.15 crore on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, fell 0.18% to $45.35 per barrel.
“Asian currencies were trading mixed against the U.S. Dollar this morning. However, the greenback is weak against the basket of currencies, and could lift sentiments for the domestic unit,” Reliance Securities said in a research note.
The report further said that “COVID-19 vaccine hopes could improve risk appetite, but simmering tensions between the US and China and stalemate between U.S. lawmakers on the stimulus bill could limit the appreciation bias in the market”.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Faster pages
Move smoothly between articles as our pages load instantly.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Personalised recommendations
A select list of articles that match your interests and tastes.
Briefing
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath