On July 19, The Rupee Had Settled At 74.88 Against The U.S. Dollar
The Indian rupee depreciated 7 paise to 74.95 in opposition to the U.S. greenback in opening commerce on July 20 as agency American forex and weak home equities weighed on investor sentiment.
At the interbank international alternate, the rupee opened at 74.93 in opposition to the greenback, then fell additional to 74.95, registering a fall of 7 paise over its earlier shut.
On July 19, the rupee had settled at 74.88 in opposition to the U.S. greenback.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, “It is risk aversion all the way” and the vary for USD-INR for at this time is 74.70 to 75.10.”
“We should see some resistance around these levels as dollar buying remains the theme. [Market participants] will continue to buy the dips as RBI protects the higher levels. Importers to buy the dips near to 74.70/75 and exporters to sell near to 75.10 as market awaits U.S. monetary policy on 28th,” Mr. Bhansali mentioned.
The greenback index, which gauges the dollar’s energy in opposition to a basket of six currencies, was buying and selling down 0.01% at 92.88.
Global oil benchmark Brent crude futures rose 0.09% to $68.68 per barrel.
On the home fairness market entrance, BSE Sensex was buying and selling 233.61 factors or 0.44% decrease at 52,319.79, whereas the broader NSE Nifty declined 71.80 factors or 0.46% to fifteen,680.60.
Foreign institutional traders have been internet sellers within the capital market on Monday as they offloaded shares price 2,198.71 crore, as per alternate information.
