Indian rupee further strengthens, rises above 74 against US dollar

The dollar index was trading 0.13% lower at 95.87.

PTI file
PTI file

A Staff Reporter

Published: Tue 11 Jan 2022, 9:34 AM

The Indian rupee appreciated by 13 paise to 73.92 against the US dollar (20.14 against the Emirati dirham) in opening trade on Tuesday, supported by the weakening of the American currency.

At the Indian interbank foreign exchange, the rupee opened at 73.94 against the dollar, then inched higher to quote 73.92, registering a rise of 13 paise from the last close.

In the previous session, the rupee had settled at 74.05 against the greenback.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.13 per cent lower at 95.87.

“Rupee has risen above 74.00 with opening around 73.95 and flows continue to take rupee higher as importers are absent from the market as is RBI (Reserve Bank of India). The US Fed may be in for a rate hike but that has overall not affected USDINR," said Anil Kumar Bhansali, head of treasury, Finrex Treasury Advisors.

On the Indian equity market front, the 30-share Sensex was trading 37.9 points or 0.06 per cent lower at 60,357.73, while the broader NSE Nifty declined 14.65 points or 0.08 per cent to 17,988.65.

Global oil benchmark Brent crude futures rose 0.40 per cent to $81.19 per barrel.

(with inputs from PTI)

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