The rupee closed 4 paise up at 73.54 against the US currency on Thursday.
The rupee slipped 11 paise to 73.65 against the US dollar in opening trade on Friday, tracking stronger American currency overseas. At the interbank forex market, the domestic unit opened weak at 73.62 and dropped further to 73.65 against US dollar in early deals, showing a fall of 11 paise over its previous close. On Thursday, the rupee closed 4 paise up at 73.54 against the US currency. A strong US dollar is weighing on the rupee despite positive domestic equities trend, forex traders said. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.11 per cent to 93.05. BSE index Sensex was trading 159.95 points higher at 40,718.44, and the broader NSE Nifty advanced 51.05 points to 11,947.50. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,118.46 crore on Thursday, according to exchange data. Meanwhile, Brent crude futures, the global oil benchmark, increased 0.31 per cent to USD 42.59 per barrel.
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath