July 31, 2021

Rupee inches 3 paise higher to 74.51 against U.S. dollar in early trade

Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.

The Indian rupee opened on a flat note and inched higher by 3 paise to 74.51 against the U.S. dollar in early trade on Friday, as investors await fresh triggers.

At the interbank foreign exchange, the domestic unit opened at 74.53 against the dollar, then inched higher to 74.51, registering a gain of just 3 paise over its previous close.

On Thursday, the rupee had settled at 74.54 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06% down at 92.56.

The Indian Rupee opened flat against the U.S. Dollar this Friday as investors await fresh triggers, Reliance Securities said in a research note.

Moreover, Asian currencies have started weak and could…

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