This Article is From Sep 29, 2020

Rupee Ends Marginally Lower At 73.85 Against Dollar

At the current level, the rupee has recovered 3.98 per cent from an all-time low of 76.91, registered in April this year.

Rupee Ends Marginally Lower At 73.85 Against Dollar

Rupee Vs Dollar: The rupee is down 3.46% against the dollar so far this year

Rupee Vs Dollar Today: The rupee traded in a narrow range before settling with a loss of seven paise - or 0.09 per cent - against the US dollar at 73.85 on Tuesday. After starting the session nearly unchanged at 73.77 against the greenback, the rupee quoted in a range of 15 paise, between 73.76 and 73.91, during the four-hour session. However, weakness in the dollar overseas along with mild gains in domestic equities provided some support to the rupee, say analysts.

Domestic equity markets were on course to close a volatile session higher, rising for a third straight day, as gains in IT and metal shares were countered by losses in financial and consumer goods stocks.

The dollar index - which gauges the US currency against six peers - weakened as much as 0.22 per cent on Tuesday, as investors awaited the first US presidential debate and further developments on a new US coronavirus relief bill.

The Japanese yen was last seen trading 0.08 per cent lower against the US dollar, and the Chinese yuan was down 0.09 per cent, whereas the Singaporean dollar, the Taiwanese dollar and the Indonesian rupiah were up 0.23 per cent, 0.32 per cent and 0.03 per cent respectively. 

Crude oil prices dropped on Tuesday as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new US stimulus package that lawmakers are struggling to agree.

Brent crude futures - the global benchmark for crude oil rates - were last seen trading 0.49 per cent lower at $42.22 per barrel, having declined to as low as $42.03 per barrel earlier. 

At the current level, the rupee has recovered 3.98 per cent from an all-time low of 76.91, registered in April this year. However, it is still down 3.46 per cent so far this year.