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.

 

 

 

IFC commits $400 million to Bajaj Financ…

06-11-2024

Sample Image

IFC, part of the World Bank Group, has pledged $400 million to Bajaj Finance Ltd. This funding will broaden financing options for customers purchasing electric vehicles and energy-efficient appliances in...

Read more

Stock market today: BSE Sensex opens ove…

06-11-2024

Sample Image

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Thursday. While BSE Sensex declined over 100 points, Nifty50 was near 24,450.

Read more

US stocks: S&P 500 sees best post-el…

06-11-2024

Sample Image

US stock markets surged to record highs as investors celebrated Donald Trump's presidential victory and the potential for Republican control of Congress. The S&P 500 saw its most significant post-election...

Read more

Inflation to be higher in Oct, eco givin…

06-11-2024

Sample Image

RBI Governor Shaktikanta Das warns of escalating inflation, projecting October figures to surpass September's 5.49%. Despite mixed economic data, Das maintains a cautious stance on rate cuts, emphasizing a...

Read more

Indian IT companies brace for tighter vi…

06-11-2024

Sample Image

Donald Trump's potential second term as US president could see stricter immigration policies, impacting Indian IT firms reliant on H-1B visas. Despite these firms reducing visa dependency, experts predict tighter...

Read more

Bitcoin scales $75k peak as 'crypto prez…

06-11-2024

Sample Image

Bitcoin soared to an all-time high, driven by Trump's projected victory and the anticipation of favorable cryptocurrency regulations during his potential second term. The cryptocurrency market responded positively to Trump's...

Read more

Re falls to 84.28, biggest drop in over …

06-11-2024

Sample Image

The Indian rupee experienced its most significant drop in over four months, closing at 84.28 against the US dollar due to Trump's victory. Despite this decline, the Reserve Bank of...

Read more

Trump presidency seen as mixed bag for I…

06-11-2024

Sample Image

Economists and market analysts believe that a return of Donald Trump to the White House could bring both opportunities and challenges for the Indian market. While some sectors like software...

Read more

Dow soars over 1,300 pts, Sensex 900 pts

06-11-2024

Sample Image

Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory in the US presidential election. Investors are optimistic...

Read more

Trump Media suffers $19.2 million loss o…

06-11-2024

Sample Image

Trump Media and Technology Group, the company behind Donald Trump's social media platform Truth Social, reported a USD 19.2 million loss in its latest quarter. The losses were attributed to...

Read more

How Trump’s tariff plans will impact Chi…

06-11-2024

Sample Image

Donald Trump's proposed 60% tariffs on Chinese imports pose significant economic threats to China. China's property sector crisis, deflationary pressures, and unsustainable local government debt contribute to its economic...

Read more

What will Donald Trump as US President m…

06-11-2024

Sample Image

US election results: Indian equity markets have responded positively to Trump’s potential win. But what will the long-term impact of Trump at the White House be for Indian stock markets?...

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?