Press "Enter" to skip to content

Rupee ends lower at 73.27 per dollar

Indian rupee erased early gains and ended lower at 73.27 per dollar, amid volatile trade seen in the domestic equity market.
It opened higher at 73.08 per dollar against Friday’s close of 73.16 and remained in the range of 73.05-73.30.
At 14:15 IST, the Sensex was up 28.32 points or 0.07% at 40537.81, and the Nifty was up 1.20 points or 0.01% at 11915.40..
“The Indian rupee registered its second consecutive weekly gain on the back of weakness in dollar index and an unabated rally in domestic equities. With rekindled hopes of a trimmed down, targeted US fiscal stimulus plan, there have been persistent portfolio inflows pouring in. Going ahead, rupee looks poised to appreciate further, but the level of 72.80 mark is likely to cap gains, while on the other hand, the level of 73.80 will act as a strong support for the local unit,” said Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.
“We believe that the trajectory of the dollar index will keep steering the movement of the local unit,” she added.
Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end. Read from source….