Rupee settles 3 paise down at 75.18 against US dollar

Mumbai (Bombay): The rupee settled three paise lower in 75.18 (provisional) over the US dollar on Thu. tracking strengthening American currency amidst worries over mounting COVID-19 instances.

Forex traders stated rupee traded in a narrow range as powerful dollar, foreign fund outflows & raising COVID-19 instances dragged the regional unit down, awhile positive national equities supported the rupee & restricted the losses.

In the interbank forex market, the rupee opened in 75.23, & finally settled for the day in 75.18 over the US dollar, registering a loss of three paise over its recent close.

It’d settled in 75.15 over the US dollar on Wed.

During this session, it swung between a high of 75.15 & low of 75.29 over the US dollar.

The dollar index, that gauges the greenback’s strength over a basket of 6 currencies, rose 0.06 percent to 96.13.

On the national equity market front, the 30-share BSE benchmark Sensex has been trading 145.67 points higher in 36,197.48 & broader NSE Nifty rose 39.70 points to 10,657.90.

Foreign institutional investors have been net sellers within the capital market as they offloaded shares value INR 221.70 cr on Wed., as per provisional exchange statistics.

Brent crude futures, the global oil benchmark, fallen 0.82 percent to USD 43.43 per barrel.

Meantime, the amount of instances across the globe related to COVID-19 has crossed 1.35 cr & the number of deaths has topped 5.84 lakh.

In India(In), the number of deaths due the disease rose to 24,915 & the amount of infections rose to 9,68,876, as per the health ministry.