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Rupee rises 9 paise to 73.46 against US dollar

Thu Sep 10 2020

 

The rupee on Thursday advanced by 9 paise to end at 73.46 to the US dollar as robust foreign fund inflows and easing of crude oil prices lifted forex market sentiment.

 

Starting off the session on a positive note, the domestic currency touched the day’s high at 73.16 against the greenback. After paring significant gains, the rupee finally settled at 73.46, up 9 paise.

 

On Wednesday, the rupee had settled at 73.55 against the US dollar.

 

Foreign institutional investors bought equities worth Rs 838.37 crore on a net basis on Thursday, exchange data showed.

 

According to forex traders, softening crude oil and weaker American currency also helped rupee trade higher.

 

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.21 per cent to 93.05.

 

US dollar index was trading marginally weak in Asian trade ahead of the ECB meet and lent support to the domestic currency, traders said.

 

Source: www.thehindubusinessline.com

 

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