Rupee Vs Dollar: The rupee is down 5.76% against the dollar so far this year
Rupee Vs Dollar Today: The rupee weakened by 23 paise – or 0.31 per cent – to briefly trade above the 75 mark against the US dollar on Thursday, amid a mixed trend across Asian currencies. It traded within a range of 74.93-75.05 against the greenback in the first half of the four-hour session, having started the day weaker at 74.98 against the dollar compared to its previous close of 74.82. Gains in the dollar overseas and losses in domestic equities put pressure on the rupee, according to analysts.
It was last seen trading at 74.99 against the dollar.
Domestic stock markets trimmed early losses amid weakness across global equities, after the US central bank warned the American economy faced a highly uncertain path to recovery from the coronavirus-induced downturn.
The S&P BSE Sensex index fell as much as 1.04 per cent to 38,212.66 during the session, and the broader NSE Nifty 50 benchmark dropped as much as 1.02 per cent to 11,294.15.
While the Japanese yen was last seen trading 0.13 per cent lower against the US dollar and the Singaporean dollar down 0.03 per cent, the Chinese yuan was flat and the South Korean won up 0.15 per cent.
The dollar index – which gauges the dollar against six currencies – rose as much as 0.09 per cent on Wednesday.
Crude oil prices fell on Thursday as major producers warned of a risk to demand recovery if the coronavirus crisis is prolonged. Brent crude futures – the global benchmark – were last seen trading down 0.79 per cent at $45.01 per barrel.
At Wednesday’s close, the rupee has recovered 2.72 per cent against the dollar since an all-time low of 76.91 registered in April, but is still down 4.85 per cent so far this year.
Currently, trading in the domestic forex market takes place from 10 am to 2 pm on account of the coronavirus pandemic.
