Rupee Vs Dollar: The rupee has recovered 2.68% against the dollar since an all-time low in April
Rupee Vs Dollar Today: The rupee appreciated by 18 paise – or 0.24 per cent – to close at 74.85 against the US dollar on Friday, ending the week with a gain of five paise. The domestic currency moved in a range of 14 paise against the greenback, between 74.83 and 74.97, having begun the four-hour session mildly stronger at 74.96 compared to its previous close of 75.03. Gains in the domestic equity markets supported the rupee but strength in the greenback overseas put pressure on the rupee, say analysts.
Domestic stock markets rose on Friday as investors stayed hopeful of a pick up in business activity in a coronavirus-hit economy and took their cue from a tech-driven rally on Wall Street. The S&P BSE Sensex index closed 0.56 per cent higher at 38,434.72, and the broader NSE Nifty 50 benchmark ended up 0.53 per cent at 11,371.60.
Global oil benchmark Brent crude futures fell as much as 1.56 per cent on Friday. The Brent contract was last seen trading down 0.89 per cent at $44.50 per barrel.
The dollar index – which measures the US currency against six peers – was up 0.58 per cent at the time, having risen as much as 0.65 per cent earlier on Friday.
Other Asian currencies traded on a mixed note against the dollar. While the Japanese yen was flat, the Chinese yuan and the Singaporean dollar down 0.13 per cent and 0.28 per cent respectively, and the Indonesian rupiah up 0.49 per cent.
At the current level, the rupee has recovered 2.68 per cent against the dollar since an all-time low of 76.91 registered in April, but is still down 4.89 per cent so far this year.
