Rupee trades higher at 72.40 per dollar


On March 19 rupee ended flat at 72.51 per dollar versus Thursday’s close of 72.52.

Indian rupee extended the early gains and trading higher at 72.40 per dollar, amid selling seen in the domestic equity market.

It opened marginally higher at 72.48 per dollar against Friday’s close of 72.51.

At 11:17 IST, the Sensex was down 257.50 points or 0.52% at 49,600.74, and the Nifty was down 50.70 points or 0.34% at 14,693.30.

Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading

The USDINR pair continue to appreciate as the dollar index remained below 92. However, a rise in US yields would push the Dollar index above 92, which would move the USDINR pair higher. However, a rise should be used to create fresh shorts, said ICICI Direct.

The dollar-rupee March contract on the NSE was at Rs 72.58 in the last session. The open interest fell by almost 0.32% for the March series, it added.

Moneycontrol News