iPhone | iPad
Android
Huawei
Roads and Transport Authority has been working round the clock to carry out maintenance work
KT APPDOWNLOAD
Indian rupee rises to Dh19.76, thanks to dip in new Covid-19 cases
Photo: PTI
Dubai - In Asia, most of the currencies were flat against the US dollar and this could aid the rupee as well.
The Indian rupee rose to 72.54 against the dollar (19.76 versus UAE dirham) on Tuesday morning due to weakness in greenback and fall in new coronavirus cases in the country.
Reliance Securities said in a research note that the rupee is tracking the overall weakness of the dollar and non-interference of Reserve Bank of India to rein in the rupee’s rise. Improved risk appetite could further support the rupee, it said.
In Asia, most of the currencies were flat against the US dollar this morning and this could aid the Indian rupee as well, said the note.
However, forex traders were a bit cautious due to rise in oil because rise in crude prices weighs on the country’s economic performance. Global oil benchmark Brent crude futures rose 1.24 per cent to $70.18 per barrel on Tuesday morning.
India’s economy contracted 7.3 per cent in 2020-21, official data showed Monday — its worst recession since independence as coronavirus lockdowns put millions out of work.
Asia’s third-largest economy grew by 1.6 per cent between January and March — the fourth quarter of its fiscal year — after exiting its first “technical recession” since 1947 following two successive quarters of contraction.
The Bombay Stock Exchange was trading 40.85 points or 0.08 per cent higher at 51,978.29, while the National Stock Exchange fell 5.30 points or 0.03 per cent to 15,577.50.
India on Tuesday reported 1,27,510 new infections in 24 hours — its lowest in 50 days, as 2,795 more succumbed to the pandemic.
waheedabbas@khaleejtimes.com
More news from
Through this collaboration, Partisia Blockchain Foundation is set to discover and support the next generation of Web3 innovators
Jassim Mohammed Al Budaiwi reiterated the GCC's firm position supporting Palestinian people's right to self-determination and establishment of an independent state
As part of Operation Chivalrous Knight 3, food, shelter tents, and basic supplies were provided to Palestinian families
The South African is tied with Denmark’s Nicolai Kristensen at the halfway stage of the tournament
The neighbourhood around the consulate was closed after the 60-year-old entered the premises, claiming to be armed with an explosive vest
All competent authorities must work together and coordinate to expedite possible means of support
Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
