Rupee settles 6 paise lower at 76.20 against US dollar
The rupee settled 6 paise lower at 76.20 (provisional) against the US dollar on Friday as strengthening of the US currency and rising Covid-19 cases weighed on investor sentiment.
Forex traders said factors like strengthening US dollar, rising coronavirus cases and border tension between India and China dragged down the local unit, while positive domestic equities and fresh foreign fund inflows supported the rupee and restricted the decline to some extent.
The rupee opened at 76.28 against the US dollar, regained some lost ground and finally settled for the day at 76.20 against the US dollar, down 6 paise over its previous close.
It had settled at 76.14 against the greenback on Thursday.
Foreign institutional investors were net buyers in the capital market as they bought shares worth Rs 366.57 crore on Thursday,according to provisional exchange data.
Brent crude futures,the global oil benchmark, rose 2.51 per cent to USD 42.55 per barrel.
The rupee settled 6 paise lower at 76.20 (provisional) against the US dollar on Friday as strengthening of the US currency and rising Covid-19cases weighed on investor sentiment.
Forex traders said factors like strengthening US dollar, rising coronavirus cases and border tension between India and China dragged down the local unit, while positive domestic equities and fresh foreign fund inflows supported the rupee and restricted the decline to some extent.
The rupee opened at 76.28 against the US dollar, regained some lost ground and finally settled for the day at 76.20 against the US dollar, down 6 paise over its previous close.
It had settled at 76.14 against the greenback on Thursday.
Foreign institutional investors were net buyers in the capit al market as they bought shares worth Rs 366.57 crore on Thursday, according to provisional exchange data.
Brent crude futures,the global oil benchmark, rose 2.51 per cent to USD 42.55 per barrel.
