The range remains between 73.00-73.55 either side sustaining prices shall take direction, says Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.
Indian rupee ended higher by 10 paise at 73.15 per dollar, amid volatile trade seen in the domestic equity market.
It opened higher by 8 paise at 73.17 per dollar versus Tuesday’s close of 73.25 and traded in the range of 73.10-73.22.
At close, the Sensex was down 24.79 points or 0.05% at 49,492.32, and the Nifty was up 1.40 points or 0.01% at 14,564.90.
The dollar nursed losses on Wednesday as a retreat in U.S. yields sapped momentum from its recent rebound and investors cautiously resumed bets that it can resume sliding.
“Rupee traded with gains as the market cheers the continued trend in risky capital markets steadily. With dollar index having some softness tone near $ 90.40 after touching $ 90.80 gave some support to the rupee. The range remains between 73.00-73.55 either side sustaining prices shall take direction,” said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.
Oil prices rose on Wednesday, with U.S. crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic.