Google Search for Web:

Kajal Agrawal

Rupee tumbles 44 paise to end at 73.47 against US dollar Featured

  03 सितम्बर 2020

This was the second consecutive day of decline for the rupee, during which it has depreciated by 60 paise.

The rupee slumped 44 paise to close at 73.47 against the US dollar on Thursday as rise in demand for the American currency from oil importers weighed on forex market sentiment. 

Besides, stronger greenback against its key rival currencies and subdued domestic equities exerted pressure on the domestic unit.At the interbank forex market, the rupee opened on a weak note at 73.23, lost further ground during the session and finally settled for the day at 73.47 against the greenback, registering a fall of 44 paise over its last close. 

During the session, the domestic unit witnessed an intra-day high of 73.23 and a low of 73.48 against the American currency.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 93.01.

"Rupee ended lower Thursday tracking a strong greenback amid oil importers dollar demand. A strong dollar index pushed USD/INR spot pair higher today," Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities, said.

The greenback rose against major peers after investors trimmed bets against the greenback and sold the euro on concerns that the European Central Bank was worried about its rise, he added.Brent crude futures, the global oil benchmark, fell 1.06 per cent to USD 43.96 per barrel.Traders said markets will be eyeing weekly US jobless claims data for further cues.

Forex traders said the Indian rupee in line with other Asian currencies traded lower following recovery in dollar against major currencies.This was the second consecutive day of decline for the rupee, during which it has depreciated by 60 paise.

On the domestic equity market front, the BSE Sensex ended 95.09 points or 0.24 per cent lower at 38,990.94; and the NSE Nifty closed 7.55 points or 0.07 per cent down at 11,527.45.

 

 

 

Stock market today: BSE Sensex flat in o…

04-11-2024

Sample Image

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red in trade on Tuesday after Monday’s’ crash. While BSE Sensex dipped over 200 points, Nifty50 was...

Read more

Sebi asks Embassy to suspend its CEO ove…

04-11-2024

Sample Image

The Securities and Exchange Board of India (SEBI) has ordered Embassy Office Parks Management Services to suspend its CEO, Aravind Maiya, due to his previous involvement in a financial scandal...

Read more

More pain in store as FMCG prices inch u…

04-11-2024

Sample Image

FMCG companies in India are raising prices due to increased commodity costs, putting pressure on middle-class budgets already strained by festive spending. While this boosts company profits, it slows volume...

Read more

Rising defaults in small loans signal pa…

04-11-2024

Sample Image

Retail-loan defaults are increasing in India. This is impacting the stock market. Analysts are concerned about the impact on the economy. Lenders are reporting stress in unsecured loans. Personal loan...

Read more

US election uncertainty pulls down sense…

04-11-2024

Sample Image

Indian stock markets tumbled on Monday, with the Sensex and Nifty experiencing their lowest close in three months. This decline was fueled by global uncertainties surrounding the US election...

Read more

Sebi warns investors about stock ‘games’…

04-11-2024

Sample Image

India's market regulator, SEBI, issued a warning to investors about unauthorized entities offering virtual trading services and fantasy games based on stock prices. These platforms violate SEBI's regulations and pose...

Read more

Record foreign exodus casts a pall over …

04-11-2024

Sample Image

India's stock market is experiencing a decline as foreign investors withdraw record funds due to concerns about the slowing post-pandemic economic boom. Despite domestic investments preventing a larger downturn, waning...

Read more

Dehaat reports 36% rise in FY24 revenue …

04-11-2024

Sample Image

Dehaat, India's highest-valued agritech startup, saw a 36% revenue surge to Rs 2,720 crore in FY24, driven by strong growth in agri-input and output sales. Despite reduced cash losses, the...

Read more

Top 5 Bank Fixed Deposits: Which are the…

04-11-2024

Sample Image

Bank Fixed Deposits (FDs) are offering attractive interest rates, making it a favorable time for investors to lock in high returns before potential rate cuts by the Reserve Bank of...

Read more

Mukesh Ambani’s Reliance Jio IPO set to …

04-11-2024

Sample Image

Mukesh Ambani is aiming to list Reliance Jio on the stock market by 2025, with analysts valuing the company at over $100 billion. The retail division's IPO is expected later...

Read more

Bajaj Auto reports 2% rise in total vehi…

04-11-2024

Sample Image

Bajaj Auto witnessed a 2% rise in total vehicle sales this October, reaching 4,79,707 units. This growth was fueled by a 24% surge in exports, offsetting an 8% dip in...

Read more

US election results: What would a Donald…

04-11-2024

Sample Image

US elections' impact on Indian stock markets: Analysts predict a Trump win could significantly impact global markets, while a Kamala Harris win might maintain current economic conditions. Experts suggest...

Read more

40% surge in car deliveries during festi…

04-11-2024

Sample Image

India witnessed a 40% surge in car deliveries this festive season, driven by strong demand for light motor vehicles like cars and SUVs. Despite an overall modest growth in the...

Read more

Ryanair profit falls, growth hit by Boei…

04-11-2024

Sample Image

Irish budget airline Ryanair reported falling net profit for the second quarter on Monday and revised down its passenger growth target following delays in deliveries of Boeing aircraft. Delays in...

Read more

Maruti Suzuki passenger car production d…

04-11-2024

Sample Image

Maruti Suzuki India decreased passenger car production by 16% in November 2023, while utility vehicle production surged by 33%. Mini and compact car production also experienced declines. Overall...

Read more

Niva Bupa Health Insurance sets IPO pric…

04-11-2024

Sample Image

Niva Bupa Health Insurance Company Ltd. has announced the price band for its upcoming IPO at Rs 70-74 per share. The IPO, aiming to raise Rs 2,200 crore, will open...

Read more

Headlines

Priyanka Gandhi

OMAR ABDULLAH:

YouTubeBox _A

NRI News:

Currency Rates

S5 Instagram Feed

YouTubeBox _K

World COVID-19

Poll:

Who will win 2024 General Election in India?