Indian rupee falls to 20.26 against UAE dirham
At the Indian interbank market, the rupee opened on a weak note at 74.28 against the dollar.
The Indian rupee depreciated 22 paise to 74.36 against the US dollar (20.26 versus the UAE dirham) due to a muted trend in the Indian equities at the opening of the market on Thursday.
At the Indian interbank market, the rupee opened on a weak note at 74.28, then fell further to 74.36 against the dollar, registering a decline of 22 paise from the last close.
"As the shortage of certain commodities affects the US, the UK and China its effects can be seen on emerging market currencies and to some extent on equities," said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors.
The dollar index, which gauges the American currency’s strength against a basket of six currencies, fell 0.05 per cent to 94.29.
Bhansali said that "the US dollar spiked up by 60 paise in two days and the rupee still looks vulnerable to the vagaries."
On the Indian equity market front, the 30-share BSE Sensex was trading 49.18 points or 0.08 per cent lower at 59,364.09. The broader NSE Nifty was trading 20.85 points or 0.12 per cent down at 17,690.45.
(with inputs from PTI)
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