The rupee on Wednesday, September 20, strengthened by 6 paise to 83.26 against the US dollar in early trade on easing global crude oil prices and rising appetite for riskier assets. However, a sell-off in the domestic equity markets and a strong American currency against major rivals overseas restricted the rupee’s rise, traders were quoted as saying in a Press Trust of India (PTI) report.
At the interbank foreign exchange, the
domestic unit opened at 83.22 against the dollar and then slipped to 83.26, registering a gain of 6 paise over its previous close. In the initial trade, the domestic unit was moving in a tight range of 83.27-83.22 against the American currency, the report said.
In the previous session on Monday, the rupee had settled at an all-time low of 83.32 against the dollar. Currency markets were closed on Tuesday on account of Ganesh Chaturthi.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was almost unchanged at 104.83. Brent crude futures, the global oil benchmark, fell 1 per cent to USD 93.40 per barrel.
Meanwhile,
Indian benchmark indices Nifty 50 and Sensex are trading near their day's lows on Wednesday, September 20. The Nifty Bank has slipped below 45,400. HDFC Bank and Reliance are the top contributors towards Nifty 50's downside.
(Edited by : Anshul)
First Published: Sept 20, 2023 12:15 PM IST
