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Rupee trades lower at 76 per dollar

April 08
13:09 2020

Indian rupee has extended the losses and trading at day’s low level at 76 per dollar, amid buying seen in the domestic equity market.

It opened 18 paise lower at 75.81 per dollar on Wednesday against previous close of 75.63.

On Tuesday, Indian rupee ended with a gain of 55 paise at 75.63 per dollar amid buying seen in the domestic equity market.

The Sensex was up 59.31 points or 0.20% at 30126.52, and the Nifty was up 23.25 points or 0.26% at 8815.45.

The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing, said Reuters.

Oil climbed on Wednesday, reversing most of the prior session’s losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic, it added.

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