NEW DELHI: Indian rupee ended marginally higher at 74.40 per dollar, amid buying saw in the domestic equity market.
It opened 7 paise lower at 74.53 per dollar against previous close of 74.46 and traded between 74.37-74.57, report agencies.
“Dollar index soft trend also helped the rupee gain 0.20p to 74.45 compared to 74.65 in previous session. Going ahead rupee can be seen in range of 74.30-74.65 range,” Trivedi added.
Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
“Over this year, risk-off events have not been sustained beyond 24-48 hours. The last one was no exception. After a brief sell-off in global equity markets On Monday, the risk-on mood is back strongly. Equity markets are higher and the US Dollar Index is trading lower. Asian currencies are also gaining ground against the US Dollar. Add to that lumpy FDI flows.
USD INR spot touched an intra-day low of 74.33, the lowest level since 5th July. However, alleged intervention from RBI pulled it back towards 74.47 by close of trading, still down 15 paise for the day.
NSE USDINR July futures are also trading 16 paise up from their intra-day low of 74.36, currently at 74.51, down 19 paise for the day.