Rupee Vs Dollar: The rupee is down 4.09% against the dollar so far this year
Rupee Vs Dollar Today: The rupee jumped as much as 0.66 per cent – or 49 paise – against the US dollar to touch the 73.81 mark, amid a largely positive trend in Asian currencies. The rupee started the day barely changed at 74.29, and appreciated to as high as 73.81 against the greenback during the session. Weakness in the US dollar overseas and gains in domestic equities, which were on course to close higher for a fifth straight day, supported the rupee, say analysts.
Domestic stock markets continued a rally for the fifth trading session in a row, amid a strong buying interest in banking and financial services shares.
The S&P BSE Sensex index rose as much as 0.65 per cent to 39,326.98, and the broader NSE Nifty 50 benchmark climbed to as high as 11,617.35, up 0.59 per cent from its previous close. Both indices rose ahead of the expiry of monthly derivatives contracts due by the end of the session.
The country’s economy remains much stronger amid the coronavirus pandemic than it was during the global financial crisis over a decade ago, even if growth has slowed, Reserve Bank of India Governor Shaktikanta Das said on Thursday.
The dollar index – which gauges the US dollar against six other currencies – was last seen trading 0.17 per cent lower, having declined as much as 0.24 per cent earlier on Thursday.
Currencies elsewhere in Asia largely strengthened against the US dollar. While the Japanese yen was flat, the Singaporean dollar was up 0.08 per cent, the Chinese yuan up 0.13 per cent and the South Korean won up 0.15 per cent.
At Wednesday’s closing price of 74.30, the rupee is down 4.09 per cent against the US currency so far this year. Though it has recovered 3.39 per cent from an all-time low of 76.91 registered in April.
