Rupee ends marginally lower at 73.06 per dollar


On January 14, domestic unit ended higher by 11 paise at 73.04 per dollar against previous close of 73.15.

Indian rupee ended marginally lower at 73.12, amid selling saw in the domestic equity market.

It opened lower at 73.08 per dollar versus Thursday’s close of 73.04 and traded in the range of 72.99-73.17.

At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and the Nifty down 161.90 points or 1.11% at 14,433.70.

Oil prices were mixed on Friday as strong import data from China, the world’s biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus outbreaks.

The dollar’s rebound from a nearly three-year low faltered after Federal Reserve Chair Jerome Powell said on Thursday that interest rates would not rise any time soon.

“USDINR is still on the bearish side as flows continue and importers demand is lower. Opened around 73.07 today and should be in a range of 72.90 to 73.30 for the day,” said Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors.

“Importers to hedge very near term at 72.95 levels keeping a stop loss of 73.35. Exporters to sell for say 1 year and whenever they get spikes they can sell near term. Selling to be done at 73.15/20 level,” he added.

Moneycontrol News