Rupee Rises 23 Paise To 74.64 Against US Dollar In Early Trade

The rupee advanced by 23 paise to 74.64 against the US dollar in opening trade on Tuesday, tracking weaker dollar against key rivals and a positive trend in the domestic equity market.

바카라 웹사이트Forex traders said the government's decision to open COVID vaccination to all above 18 years from May 1 lifted investor sentiment.

At the interbank forex market, the local unit opened at 74.65 against the US dollar, then gained some strength to quote at 74.64, a rise of 23 paise over its last close.

바카라 웹사이트In the previous session, the rupee had settled at 74.87 against the American currency.

바카라 웹사이트Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.14 per cent to 90.94.

바카라 웹사이트The Indian rupee started this Tuesday on a stronger note against the US dollar, tracking the overall weakness of the dollar, Reliance Securities said in a research note.

바카라 웹사이트"Gains could be capped by the surge in coronavirus infections leading to stricter lockdowns and in turn hampering the recovery of the economy," the note said.

바카라 웹사이트However, hopes for COVID-19 vaccination from May to all above 18 years could stem the rise of infections and limit the damage caused to the economy and cap weakness of the currency, it added.

바카라 웹사이트Meanwhile, global oil benchmark, Brent crude futures, rose 0.95 per cent to USD 67.69 per barrel.

바카라 웹사이트On the domestic equity market front, the BSE Sensex was trading 278.33 points or 0.58 per cent higher at 48,227.75 in early deals, while the broader NSE Nifty rose 87.40 points or 0.61 per cent 14,446.85.

바카라 웹사이트Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 1,633.70 crore, as per exchange data.