34 C
Kuwait City
September 27, 2020
Gulflance
Home » Rupee surges against dollar, touches 20.40 against dirham – News
Khaleejtimes

Rupee surges against dollar, touches 20.40 against dirham – News

Source link


Forex traders said positive trend in the equity markets and weak American currency supported the rupee.

The rupee surged 11 paise to 74.91 against the US dollar in opening trade on Friday tracking positive domestic equities and weak American currency.

At the interbank forex market, the domestic unit opened at 74.96 against the US dollar, gained further ground and touched 74.91 against the US dollar, registering a rise of 11 paise over its previous close. (Latest forex rate in UAE today)

The rupee was trading at 20.40 against the UAE dirham, at 9:30am (UAE time), according to XE.com.

It had settled at 75.02 against the US dollar on Thursday.

Forex traders said positive trend in the equity markets and weak American currency supported the rupee.

The dollar index, which gauges the greenback”s strength against a basket of six currencies, fell 0.15 per cent to 92.65.

“The post UD Fed meeting minutes USD strength has fizzled out. The dollar has weakened overnight,” IFA Global Founder and CEO Abhishek Goenka said adding that “the dollar has weakened after the weekly Jobless claims came in higher than expected at 1.1 million (expected 900K)”.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 269.34 points higher at 38,489.73, and the broader NSE Nifty advanced 80.95 points to 11,393.15.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 268.46 crore on Thursday, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.33 per cent to $45.05 per barrel.





Click here to read more news from @khaleejtimes

Related posts

Indian PM Modi reacts to PIA plane crash in Karachi – News

gulflance

Philippines reports 4,650 new coronavirus cases, 111 additional deaths – News

gulflance

John Lewis, US civil rights icon and congressman, dies at 80 – News

gulflance

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now
close-link

You're currently offline