Indian rupee ends lower at $74.95

23 April, 2021 12:00 AM printer

NEW DELHI: Indian rupee ended lower by 7 paise at 74.95 per dollar, amid buying seen in the domestic equity market.

It opened 45 paise lower at 75.33 per dollar against Tuesday close of 74.88 and traded in the range of 74.82-75.33, report agencies.

At close, the Sensex was up 374.87 points or 0.79 per cent at 48080.67, and the Nifty was up 109.80 points or 0.77 per cent at 14406.20.

“On April 20, rupee trades volatile in range of 74.50-75.00 amid the uncertainty on who will have upper hand in coming times, covid-19 or Covid-19 Vaccines. The first is spreading rapidly in India & the other is being jabbed as fast as possible to neutralize the virus. This is impacting the rupee, hence volatile sessions are being witnessed,” said Jateen Trivedi, Senior Research Analyst at LKP Securities

“Going ahead the volatile range will be between 74.40-75.40,” he added.

Oil prices fell for a third day on Thursday as a surprise build in U.S. crude inventories and a resurgence of COVID-19 cases in India and Japan raised concerns that a recovery in global economy and fuel demand may slow.

Gold prices rose on Thursday to hover near an eight-week high touched in the last session, as a sagging dollar and weaker U.S. Treasury yields boosted the metal’s appeal, while palladium held close to an all-time high hit in the previous session.

 


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