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Rupee settles unchanged at 74.83 against dollar

Mon July 27 2020


The rupee pared its initial gains and settled on a flat note at 74.83 (provisional) to the US dollar on Monday.


At the interbank forex market, the domestic unit opened on a strong note at 74.70, but erased the gains to finally close at 74.83, unchanged from its previous closing.


During the session, the domestic unit witnessed an intra-day high of 74.67 and a low of 74.90 against the US dollar.


Forex traders said the uptick in the rupee during the day was supported by weak greenback and foreign fund inflows.


While muted domestic equities and concerns over geopolitical developments weighed on investor sentiment, they added.


The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.53 per cent to 93.93.


Source: Hindu business line.

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