UAE: Indian rupee gains against dirham, trades at 20.19

Staff Report/Dubai
Filed on August 26, 2021

Dollar index up 0.06 per cent at 92.87

The Indian rupee appreciated 13 paise to 74.11 against the US dollar (20.19 versus the UAE dirham) in opening trade on Thursday, tracking a positive trend in the Indian equity market.

At the Indian interbank market, the rupee opened at 74.22 against the dollar, then surged higher to 74.11, rising 13 paise over its previous close.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.06 per cent at 92.87.

On the Indian equity market front, BSE Sensex was trading 116.17 points or 0.21 per cent higher at 56,060.38, while the broader NSE Nifty advanced 38.50 points or 0.23 per cent to 16,673.15.

Traders said investors are awaiting cues on the scaling back of the easy monetary policy by the US Federal Reserve ahead of the important Jackson Hole Symposium.

"Jackson Hole Symposium starts today with Jerome Powell's speech tomorrow. The market is awaiting his comments before taking the next call on market movement," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

(With inputs from PTI)

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