Indian rupee opens flat versus UAE dirham, was trading at 19.93
Indian equity markets, Asian currencies, and the US dollar likely to influence the rupee in the near future, analysts say
The Indian rupee inched higher by three paise to 73.15 against the US dollar - 19.93 versus the UAE dirham - on Thursday morning in a muted trade.
The South Asian currency had closed at 73.18 against the US dollar on Wednesday.
Analysts say that Indian equity markets, Asian currencies, and the greenback will continue to influence the rupee in the near future.
Reliance Securities said the improving pandemic situation in India would also provide further support to the Indian currency.
“The US dollar index was marginally weaker this Thursday morning in Asian trade. However, downside remained limited after minutes from the Federal Reserve’s latest policy meeting revealed there was more talk of tapering their bond purchase than investors had thought," Reliance Securities said.
The 30-share Bombay Stock Exchange (BSE) was trading 52.66 points or 0.11 per cent higher at 49,955.30, while the broader 50-share National Stock Exchange (NSE) Nifty fell 10.30 points or 0.07 per cent to 15,019.85 on Thursday morning.
Friday's fall pushed bitcoin below its 20-day moving average to $37,... READ MORE
Repo rate held at 4%, reverse repo at 3.35% READ MORE
The marine subsidiaries of national oil companies have ambitious... READ MORE
Cut transatlantic flying time by 50% to about three-and-half hours. READ MORE
Any establishment that does not comply with the decision will be... READ MORE
Top Covid-19 vaccine myths debunked. READ MORE
'It was crucial that we operated on Adam as early as possible while... READ MORE
Michael Taylor and his son replied no when the judge asked them if... READ MORE