Rupee falls 17 paise to 74.05 against dollar

29 November, 2020 12:00 AM printer

Rupee falls 17 paise to 74.05 against dollar

NEW DELHI: The rupee snapped its five-day winning streak to finish 17 paise lower at 74.05 against the US dollar on Friday, weighed by subdued sentiment due to weak domestic equities.

Traders said market participants were also a little cautious ahead of the release of the September quarter GDP numbers, report agencies.

At the interbank forex market, the domestic unit opened at 73.80 against the greenback and witnessed an intra-day high of 73.76 and a low of 74.07.

The local unit finally closed at 74.05 against the American currency, registering a loss of 17 paise over its previous close.

On Thursday, the rupee had appreciated by 3 paise to close at 73.88 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.04 percent to 91.95.

“Rupee traded muted by afternoon trade on Friday tracking the dollar index muted trades. Thanksgiving holiday days keep dollar prices in a range moves,” Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities, said.