On Friday, the rupee strengthened 58 paise against the US currency to close at 74.35 (provisional) on the dollar, amid an improvement in investors’ risk appetite and a spurt in the domestic stock market.
In the inter-bank foreign exchange market, the rupee opened at 74.76 against the dollar and during trading the rupee touched a day high of 74.28 and a low of 74.76] but in the end the rupee showed a strength of 58 paise against its previous closing price of 74.35. The rupee closed at the dollar. It closed at Rs 74.93 per dollar on Thursday.
Meanwhile, the dollar index, showing dollar position against the world’s six major currencies, declined 0.09 percent to 91.59. The 30-share index of the Bombay Stock Exchange gained 28.35 points to end at 48,832.03 points. Brent crude futures were up 0.40 percent at $ 67.21 a barrel. According to data from the stock exchanges, foreign institutional investors remained net buyers in the capital market where they bought shares worth Rs 979.70 crore on Thursday.
Condition of other currencies
The second wave of the Corona epidemic caused a major fall in the rupee against the dollar in just two weeks. Brazilian real weakened 3.99 percent in the same period, while the Russian ruble lost 3.25 percent. Thai Baht weakened by 2.33 per cent and Indonesian Rupiah by 1.5 per cent against the dollar in the same period. . The dollar was trading at 1.233 in early January 2021 against the euro, currently trading at 1.189. That is, the dollar has strengthened against the euro by 3.5 percent.
