Indian rupee rises against UAE dirham to 20.19

Waheed Abbas /Dubai Filed on August 24, 2021

Rupee appreciates nine paise to 74.13 against the US dollar

The Indian rupee appreciated nine paise to 74.13 against the US dollar (20.19 versus the UAE dirham) in opening trade on Tuesday, following a positive trend in domestic equities.

However, flight of foreign capital, a strong dollar overseas and higher crude prices restrained the rupee to gain momentum, forex dealers said.

At the Indian interbank market, the rupee opened strong at 74.12 against the dollar, then it weakened slightly to quote 74.13, a rise of nine paise over its previous close. On Monday, the rupee had settled at 74.22 against the US dollar.

On the Indian equity market front, BSE Sensex was trading 45.14 points or 0.08 per cent higher at 55,600.93, while the broader NSE Nifty rose 19.65 points or 0.12 per cent to 16,516.10.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08 per cent to 93.04.

Global oil benchmark Brent crude futures surged 0.33 per cent to $68.98 per barrel.

(With inputs from PTI)

Waheed Abbas

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