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Rupee recovers 21 Paisa to 74.86 against US dollar in early transaction

Mumbai: At the opening price on Tuesday, the rupee recovered 21 Paisa against the dollar to 74.86. This is because the positive effects of domestic stocks and the depreciation of the US currency in overseas markets have boosted investor sentiment.
In interbank foreign exchange, the rupee started trading at a high of 74.91, then soared to 74.86 against the US dollar, recording a 21-paisa rise in early transactions.
The rupee plunged 18 Paisa on Monday to end at a five-week low of 75.07 against the US dollar due to concerns over a new coronavirus variant.
Investor concerns about how much damage the new Omicron coronavirus variant will do to the economy, according to traders, could reduce the rupee’s upward bias.
The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.21 percent to 96.14.
On the domestic stock market side, 30 shares of Senssex were trading at 57,927.16, up 666.58 points or 1.16 percent, while the wider NSE Nifty rose 199.65 points or 1.17 percent to 17,253.60.
Brent crude oil futures, the global oil benchmark, rose 0.63% to $ 73.90 a barrel.
Foreign institutional investors were net selling on Monday’s capital markets, offloading Rs 3,332.21 worth of stock, according to exchange data.



Rupee recovers 21 Paisa to 74.86 against US dollar in early transaction

Source link Rupee recovers 21 Paisa to 74.86 against US dollar in early transaction

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