Rupee Jumps By 33 Paise To Close At 73.14 Against Dollar

Rupee Vs Dollar Today: The rupee gained by 33 paise - or 0.45 per cent - to end at 73.14 against the US dollar on Friday, following two consecutive days of depreciation. It moved within a 46 paise range - between 73.01 and 73.47 - during the four-hour session, having started the day mildly stronger at 73.37 compared to its previous close of 73.47 against the greenback. Weakness in domestic equities and a mixed trend in Asian currencies, however, capped the gains, according to analysts. For the week, the rupee appreciated by 26 paise against the dollar. 

Domestic share markets registered sharp losses on Friday tracking broader weakness in global equities, amid concerns about a slow recovery from the coronavirus pandemic, which has hurt world economy and business.

The S&P BSE Sensex index ended 1.63 per cent lower at 38,357.18, and the broader NSE Nifty 50 benchmark settled at 11,333.85, down 1.68 per cent from its previous close.

The dollar index - which gauges the dollar against six other currencies - climbed up as much as 0.49 per cent on Friday. The Japanese yen was last seen trading 0.28 per cent lower against the US currency, whereas the Chinese yuan was up 0.10 per cent.

"With the sentiments remaining cautious, the rupee continues to halt its recent rally and the pressure on the (USD-INR) pair seems to have built on the weaker side," said Amit Pabari, managing director at forex advisory firm CR Forex.

Despite that, foreign institutional investors have been pouring in money in the domestic equity markets, which warrants for any unprecedented losses in the pair, he added. 

At the current level, the rupee has recovered 4.90 per cent from its all-time low of 76.91 against the US currency, registered last month.