The Exchange Rate Of The Rupee Against The US Dollar Fell To 73.42, In Line With Its Asian Counterparts.
Today’s rupee to US dollar exchange rate: In the inter-bank money market, the national unit opened at 73.12, and once fell to the 73.44 level during the session.
The rupee exchange rate against the US dollar fell by 32 paisa on Tuesday, September 7, to close at 73.42 (provisional) due to the strengthening of the US dollar in foreign markets and the mild domestic stock market trend. On the inter-bank exchange market, the national stock opened at 73.12 and fell to 73.44 during the session. On a trading day on the first trading day, the exchange rate of the local unit against the US dollar fell by 5 paisa to 73.15. Domestic stocks closed at 73.42 against the U.S. dollar, which was 32 paisa lower than the previous day’s closing price.
On Monday, September 6, the homegrown money settled at 73.10 against the greenback. The rupee was in accordance with other Asian companions, as per forex dealers. In the mean time, the dollar list, which measures the greenback’s solidarity against a bin of six monetary forms, was exchanging 0.22 percent higher at 92.23.
Anindya Banerjee, DVP, Currency Derivatives and Interest Rate Derivatives at Kotak Securities:
”The spot rupee bounced 30 paise higher at 73.40 against the greenback presumably on the rear of huge corporate interest for the dollar. A solid US Dollar Index is additionally helping the shortcoming in the rupee. Nonetheless, the potential gain stays covered on account of exporter selling and FPI inflows. We anticipate a scope of 73.00 and 73.70 on spot.”
Kshitij Purohit, Lead International & Commodities at CapitalVia Global Research Limited:
”On the homegrown front, USD/INR September opened on a level note and was moving in a possibly sideways to Bullish pattern. costs are regarding 73.10-73.08 help zone as we have examined commonly in before meetings. This is on the grounds that 73.00 is a significant mental level and costs won’t penetrate this zone until and except if there is some significant information in the worldwide business sectors.”
In the domestic stock market, BSE Sensex closed down 17.43 points or 0.03% to 58,279.48, while the broader NSE Nifty fell 15.70 points or 0.09% to 17,362.10.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited:
“There was some volatility in the market and tried to hold the Nifty 50 index around 17,300. If the market stays above the 17200-17250 level, it is expected to gain momentum, leading to an upward forecast to the 17400-17450 level. Momentum indicators such as RSI and MACD will remain positive, and market amplitude will improve, further strengthening the short-term bullish outlook. ”
According to exchange data, on September 6, foreign institutional investors were net sellers in the capital market. They sold shares worth 589.36 crore. The world benchmark oil index Brent crude oil futures fell 0.01% to US$72.21 per barrel.
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