scorecardresearch
Monday, Nov 28, 2022

Rupee opens on flat note against US dollar

At the interbank forex market, the domestic unit opened at 74.12 against the US dollar. In early trade, the local unit also touched 74.17 against the American currency.

Indian one thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India, on Sunday, Jan. 29, 2016. (Photographer: Dhiraj Singh/Bloomberg)

The rupee opened on a flat note and was trading in a narrow range against the US dollar in opening session on Monday as rising COVID-19 cases offset positive sentiments surrounding the progress on the vaccine front.

At the interbank forex market, the domestic unit opened at 74.12 against the US dollar. In early trade, the local unit also touched 74.17 against the American currency.

On Friday, the local unit had settled at 74.16 against the greenback.

“The overall sentiment prevailing globally can be best described as one of cautious optimism. With a couple of vaccines having been proven effective in trials, the question now is how much the situation gets worse before it becomes better and how much more damage is inflicted upon the economy until then,” said Abhishek Goenka, Founder and CEO, IFA Global.

Subscriber Only Stories
UPSC Key- November 28, 2022: Why you should read ‘China’s Zero-Covid poli...Premium
Delhi reports another gruesome case of body-chopping and murderous aggres...Premium
UPSC Essentials | Key terms of the past week with MCQsPremium
ExplainSpeaking | A profile of Gujarat’s economy before electionsPremium

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.13 per cent to 92.26.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 9.30 points higher at 43,891.55, and the broader NSE Nifty rose 8.60 points to 12,867.65.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 3,860.78 crore on a net basis on Friday, according to exchange data.

Advertisement

Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 45.17 per barrel.

First published on: 23-11-2020 at 10:58:28 am
Next Story

Delhi Chalo march: ‘Will block all roads to Delhi… it is a matter of our existence’

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close