Rupee Vs Dollar: The rupee is down 4.18% against the dollar so far this year
Rupee vs Dollar Today: The rupee moved in a range of 34 paise against the US dollar on Tuesday before ending flat at 74.32 for the day, amid a mixed trend across Asian currencies. It moved between 74.17 and 74.51 during the four-hour session, having started the day stronger at 74.17 compared to its previous close of 74.32, its highest in five months. Weakness in the dollar overseas supported the rupee, however gains were limited as domestic equities gave up nearly all of their early gains, say analysts.
Domestic stock markets gave up most of early gains on Tuesday as heavyweights such as Reliance Industries and HDFC Bank declined, offsetting hopes around US-China trade talks and potential coronavirus treatments.
Benchmark indices Sensex and Nifty traded barely up in afternoon deals, having risen half a per cent earlier during the session, as losses in consumer goods and metal shares countered gains in financial shares.
The Japanese yen was last seen trading 0.33 per cent lower against the dollar. While the Singaporean dollar was flat at the time, the Chinese yuan was up 0.10 per cent.
The dollar index – which measures the US dollar against six currencies – was down 0.15 per cent, having declined as much as 0.26 per cent earlier on Tuesday.
Crude oil prices were mixed as traders weighed massive production cuts in the US Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe.
Global benchmark Brent crude oil futures were last seen trading 0.44 per cent higher at $45.33 per barrel, the highest level of the day recorded so far.
At the current level, the rupee has recovered 3.37 per cent against the dollar since an all-time low of 76.91 registered in April, but is still down 4.15 per cent so far this year.
