Indian rupee drops to 19.94 versus dirham

Staff report/Dubai
Filed on June 3, 2021
File photo

Dollar gains against major currencies in Asian markets

The Indian rupee fell nine paise to 73.18 against the US dollar (19.94 versus the UAE dirham) on Thursday morning as dollar gained against major currencies in the Asian markets.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 89.96.

Meanwhile, the Indian stock markets opened higher on Thursday after foreign investors turned buyers the previous day.

The Bombay Stock Exchange (BSE) Sensex was trading 309.99 points or 0.60 per cent higher at 52,159.47, while the NSE Nifty advanced 85.90 points or 0.55 per cent to 15,662.10.

Foreign institutional investors purchased shares worth Rs921.10 crore (Rs9.21 billion) on Wednesday.

The market is also getting good support from falling new Covid-19 cases in the country over the past few days. India’s health ministry reported 134,154 new cases of Covid-19 but the daily positivity rate further dropped to 6.21 per cent.

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