Indian rupee drops to 20.31 against UAE dirham

The dollar index fell 0.14% to 96.74.

By Staff Reporter

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PTI file
PTI file

Published: Thu 25 Nov 2021, 10:11 AM

Last updated: Thu 25 Nov 2021, 10:14 AM

The Indian rupee fell 15 paise to 74.55 against the US dollar (20.31 versus the UAE dirham) on Thursday, as a muted trend in the Indian equities and a firm American currency weighed on investor sentiment.

At the Indian interbank foreign exchange, the rupee opened on a weak note at 74.55, registering a decline of 15 paise from the last close. On Wednesday, the rupee had closed at 74.40 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.14 per cent to 96.74.

On the Indian equity market front, the 30-share Sensex was trading 15.74 points or 0.03 per cent lower at 58,325.25, while the broader NSE Nifty declined 30.10 points or 0.17 per cent to 17,384.95.

The Indian rupee started on a weaker note on Thursday morning trade, tracking the strength of the dollar, Reliance Securities said in a research note.

The dollar rose in the previous session lifted by hawkish Federal Open Market Committee (FOMC) minutes and upbeat data in the US.

"Asian currencies and equities were trading mostly weaker this early Thursday morning and will weigh on sentiments," the note added.

(With inputs from PTI)

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