Rupee Edges Lower To 73.55 Against Dollar Amid Rise In Global Crude Oil Prices


2021-03-01 10:58:55

Rupee Edges Lower To 73.55 Against Dollar Amid Rise In Crude Oil Prices

Rupee Vs Dollar Today: Rupee settled 73.55 against the US dollar today

Rupee Vs Dollar Today: The rupee edged lower by eight paise against the US dollar on Monday, March 1, to settle at 73.55 (provisional) amid a spike in global crude oil prices and stronger American currency. At the interbank foreign exchange market, the domestic unit opened at 73.76 against the dollar and registered an intra-day high of 73.19. It witnessed a low of 73.76. In an early trade session, the local unit plunged 29 paise to 73.76 against the greenback. The rupee closed at 73.55 against the greenback, registering a fall of eight paise over its previous close. On Friday, the local unit had settled at 73.47 against the American currency.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, climbed 0.22 per cent to 91.07.

On the domestic equity market front, the BSE Sensex ended 749.85 points or 1.53 per cent higher at 49,849.84, while the broader NSE Nifty advanced 232.40 points or 1.6 per cent to 14,761.55.

“Today, the market remained volatile moving in a narrow range of 100 points, between 14680 and 14780. It came down from the expected highs but managed to survive at a lower level. It could be due to the massive trading activity on Friday,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

”Today, unexpectedly, all stocks in the Nifty 50 basket except Bharti Airtel closed in positive territory. Companies in HDFC, HDFC Bank, ICICI Bank and Reliance Industries performed better than expected,” he added.

According to exchange data, the foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 8,295.17 crore on February 26. Meanwhile, Brent crude futures, the global oil benchmark, rose 1.69 per cent to $ 65.51 per barrel.
 



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