Indian rupee is stable and trades at 19.85 versus UAE dirham

Dubai - Opens a tad lower due to a rise in crude oil prices.

By Staff Reporter

Published: Mon 24 May 2021, 9:58 AM

Last updated: Mon 24 May 2021, 10:00 AM

The Indian rupee opened slightly weaker, falling four paise to 72.87 against the US dollar (19.85 versus UAE dirham) on Monday morning due to a rise in crude oil prices.

Positive reopening of the Indian stock markets and strong foreign fund inflows helped the rupee and restricted its fall against the greenback.

On Friday, the rupee had surged 29 paise to hit an eight-week high of 72.83 against the US dollar.

Global crude oil prices were up 0.6 per cent on Monday morning with Brent trading at $66.8 per barrel and West Texas Intermediate (WTI) at $64.93 a barrel at 9.30am UAE time.

On the equity market front, the 30-stock Bombay Stock Exchange (BSE) Sensex was trading 197.38 points or 0.39 per cent higher at 50,737.86, while the broader 50-stock NSE Nifty advanced 39.35 points or 0.26 per cent to 15,214.65.

India recorded 2,22,315 new Covid-19 infections on Sunday -- the lowest in around 38 days and pushing the total tally to 26,752,447.

But the death toll crossed the 300,000 figure on Monday.

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