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Rupee slips 9 paise to close at 75.02 against US dollar

Wed July 08 2020

 

 

The rupee depreciated nine paise to settle at 75.02 (provisional) against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency.

 

While foreign fund inflows supported the rupee, factors like a strong dollar, volatile domestic equities and rising Covid-19 cases dragged the local unit down, Forex traders said.

 

The rupee opened on a positive note at 74.88 at the interbank forex market, but lost ground and settled for the day at 75.02 against US dollar, down nine paise over its last close.

 

It had settled at 74.93 against the US dollar on Tuesday.

 

During the four-hour trading session, the domestic unit witnessed an intra-day high of 74.87 and a low of 75.05 against the US dollar.

 

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 per cent to 96.89.

 

Source: Hindu business line.

 

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