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Indian rupee, equities gain as dollar weakens

Staff Report/Dubai
Filed on July 13, 2021

Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.


The Indian rupee strengthened by 14 paise to 74.44 against the US dollar (20.28 versus the UAE dirham) in early trade on Tuesday, tracking a firm trend in the domestic equity markets.

The South Asian currency opened at 74.49 against the greenback in the interbank market on Tuesday and then inched higher to 74.44. On Monday, the rupee had settled at 74.58 against the US dollar.

The dollar index was trading 0.08 per cent down at 92.18 ahead of key US inflation data on Tuesday evening.

Among the equity markets, the Bombay Stock Exchange (BSE) Sensex was trading 240.87 points or 0.46 per cent higher at 52,613.56, while the broader NSE Nifty advanced 70.30 points or 0.45 per cent to 15,762.90.

Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.

Globally, oil prices 0.25 per cent to $75.35 per barrel.

(With inputs from PTI)





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