Indian rupee rises to 19.99 against UAE dirham

Staff Report/Dubai
Filed on August 30, 2021

(PTI file)

The dollar index was down 0.07 per cent at 92.62.

The Indian rupee appreciated 31 paise to 73.38 against the US dollar (19.99 versus the UAE dirham) in opening trade on Monday, tracking a positive trend in the Indian equity markets.

In the Indian interbank market, the rupee opened at 73.46 against the dollar, then surged to 73.38, up 31 paise over its previous close.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.07 per cent at 92.62. Investor sentiment got a boost after the US Federal Reserve chief Jerome Powell said that the US central bank was still far from pulling interest rates off the record low, traders said.

According to traders, the US Fed chief’s speech at Jackson Hole Symposium was ''dovish'' and expressed hope that the Fed will keep supporting the market with low interest rates.

On the Indian equity market front, BSE Sensex was trading 499.53 points or 0.89 per cent higher at 56,624.25, while the broader NSE Nifty advanced 148.20 points or 0.89 per cent to 16,853.40.

(with inputs from PTI)

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