Rupee Edges Lower To 72.43 Against Dollar Amid Rise In Global Crude Oil Prices

Rupee Vs Dollar Today: At the interbank foreign exchange market, the domestic unit opened at 72.35 against the dollar and registered an intra-day high of 72.34

Rupee Edges Lower To 72.43 Against Dollar Amid Rise In Global Crude Oil Prices

Rupee Vs Dollar Today: The rupee settled at 72.43 against the dollar

Rupee Vs Dollar Today: The rupee edged lower by eight paise against the US dollar on Thursday, February 25, to settle at 72.43 (provisional), amid the recent spike in global crude oil prices. At the interbank foreign exchange market, the domestic unit opened at 72.35 against the dollar and registered an intra-day high of 72.34. It registered a low of 72.53. In an early trade session, the local unit slipped six paise to 72.41 against the greenback. The rupee finally ended at 72.43 against the American currency, registering a fall of eight paise over its previous closing price. On Wednesday, February 24, the local unit had closed at 72.35 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.45 per cent to 89.77. "Rupee traded weak near 72.40 on back of some strength in the dollar and with higher crude price, where Brent touched 67+ and Nymex 63," said Jateen Trivedi, Senior Research Analyst at LKP Securities.

''Rupee can be seen trading between 72.10-72.60 with the broad trend still strong for rupee till the time 72.75 hold as resistance for USDINR'', he added.

On the domestic equity market front, the BSE Sensex ended 257.62 points or 0.51 per cent higher at 51,039.31, while the broader NSE Nifty climbed 115.35 points or 0.77 per cent to 15,097.35. 

“The market showed further continuation in today's date on the back of specific strength in PSU, Energy and Commodity stocks. However, indices retreat from higher levels mainly due to hefty gains of 4 percent the last two days. Technically, we feel that the market is opening the window of consolidation between the broader range of 15350/52000 and 14850/50350 levels,'' said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

According to exchange data, the foreign institutional investors were net buyers in the capital market and purchased shares worth Rs 28,739.17 crore on a net basis on February 24. Brent crude futures, the global oil benchmark, advanced 0.42 per cent to $ 67.32 per barrel.