Indian Rupee close 10 paise lower at 73.90 against US dollar

Dec 07 2020 04:29 PM
Indian Rupee close 10 paise lower at 73.90 against US dollar

The Indian rupee dropped by 10 paise to settle provisionally at the rate of  73.90 against the US currency on Monday due to a stronger dollar in overseas markets. At the forex market, the Indian currency witnessed a volatile trading session. It opened at 73.79 and rose to an intra-day high of 73.70 and dropped to a low of 73.96 and finally closed at 73.90 a dollar, recording a decline of 10 paise over its previous close of 73.80. Meanwhile, the dollar index, which measures the greenback's strength against a basket of 6 currencies, rose 0.48 percent to 91.13.

The US dollar advanced on Monday after hitting two-and-a-half years low last week as investors reduced bets on riskier assets due to fresh concerns over Brexit and US-China trade relations.

The BSE Sensex ended 0.77 percent higher at 45,426.97 while the broader NSE Nifty rose 0.73 percent to 13,355.75.

FPIs were net buyers in the capital market as they purchased shares worth Rs 2,969.59 crore on a net basis on Friday, according to provisional exchange data. Brent crude futures, the global oil benchmark, fell 0.79 percent to USD 48.86 per barrel.

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