Indian rupee ends 14 paise lower at $74.74

11 April, 2021 12:00 AM printer

NEW DELHI: Indian rupee erased some of the intraday losses but ended lower at 74.74 per dollar, amid volatile trade seen in the domestic equity market.

It opened 17 paise lower at 74.77 per dollar versus Thursday’s close of 74.60 and traded in the range of 74.53-74.97, report agencies.

At close, the Sensex was down 154.89 points or 0.31% at 49,591.32, and the Nifty was down 38.90 points or 0.26 per cent at 14,834.90.

The dollar was headed for its worst week of the year on Friday as unexpectedly strong economic data in Europe, downbeat U.S. jobs figures and a determinedly accommodative Federal Reserve have prompted investors to unwind some bets on the greenback.

“Rupee will be seen in a range of 74.45-75.15 in sessions ahead with the weak trend for rupee,” said Jateen Trivedi, Senior Research Analyst at LKP Securities.

Gold on Friday held near a more than one-month peak scaled in the previous session, with bullion set for a weekly gain of over 1 per cent, as a weakness in the dollar and Treasury yields offered support along with a surprise jump in U.S. jobless claims.

Oil prices edged up in early Asian trade on Friday, supported by a weaker dollar, as investors weighed rising supplies and the impact on fuel demand from the COVID-19 pandemic.