Rupee Closes Lower At 75.57 Vs Dollar Tracking Weakness In Asian Currencies

Rupee Vs Dollar Today: The rupee ended a volatile session on Thursday marginally lower at 75.57 against the US dollar tracking weakness in Asian currencies. The rupee swung between gains and losses in a range of 75.37-75.62 in the four-hour session, having started the day weaker at 75.62 compared to its previous close of 75.47. However, it failed to sustained intraday gains amid strength in the greenback overseas and weakness in domestic equity markets, which broke a six-day winning streak.

Domestic stock markets gave up initial gains to end lower amid a selloff in financial stocks, following a rally that continued for six straight days pushing the S&P BSE Sensex index more than 11 per cent higher.

Crude oil prices dropped, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in US distillate inventories.

Brent crude futures - the global benchmark for crude oil - were last seen trading 1.18 per cent lower at $39.32 per barrel.

The dollar index - which gauges the greenback's performance against six currencies - rose as much as 0.37 per cent, and was last up 0.24 per cent.

Currency markets currently operate within reduced trading hours due to the coronavirus-induced lockdown. The temporary timings are from 10 am to 2 pm, instead of the normal timings of 9 am to 5 pm.

At the current level, the rupee is down 5.90 per cent against the dollar so far this year.