scorecardresearch
Follow Us:
Sunday, May 16, 2021

Facing Covid headwind, Rupee falls for 5th session

Besides concerns over Covid resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. Over the last five trading days, the domestic unit has seen depreciation of 161 paise.

By: ENS Economic Bureau | New Delhi |
April 10, 2021 1:30:27 am
The scheme had netted about Rs 54,000 crore to the exchequer till early April and more is expected to come in based on the declarations already filed. The last date for making the payment has now been extended till June 30. (Representational)

The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising Covid cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.74 against the US dollar.

Besides concerns over Covid resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. Over the last five trading days, the domestic unit has seen depreciation of 161 paise.

On the equity market front, the BSE Sensex ended 154.89 points, or 0.31 per cent, lower at 49,591.32, while the broader NSE Nifty declined by 38.95 points, or 0.26 per cent, to 14,834.85.

S&P, Dow at record high

The S&P 500 and the Dow hit record highs as economy-linked stocks gained on optimism around strong US economic growth, as per a Reuters report. At 11:27 a.m. ET, the Dow Jones Industrial Average rose 76.22 points, or 0.23 per cent, to 33,579.79, and the S&P 500 gained 4.60 points, or 0.11 per cent, to 4,101.77.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement
x