Rupee gains 7 paise to 74.10 against US dollar in early trade
PTI, Aug 6, 2021, 10:53 AM IST
Mumbai: The Indian rupee gained 7 paise and touched 74.10 against the US dollar in early trade on Friday, after the RBI kept interest rate unchanged and decided to continue with its accommodative stance as long as necessary.
At the interbank foreign exchange, the domestic unit opened at 74.11 against the dollar, then inched higher to 74.10, registering a gain of 7 paise over its previous close.
On Thursday, the rupee had settled at 74.17 against the US dollar.
The Reserve Bank of India (RBI) on Friday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy is yet to recover from the impact of second COVID wave.
Observing that economy is slowly recovery from brief hiatus, RBI Governor Shaktikanta Das said, some of the high frequency indicators reflect recovery. Consumption, investment and external demand are on path of regaining traction, the governor said.
Meanwhile, the dollar index, which gauges the greenback”s strength against a basket of six currencies, was trading 0.12 per cent up at 92.35.
On the domestic equity market front, BSE Sensex was trading 78.33 points or 0.14 per cent higher at 54,571.17, while the broader NSE Nifty advanced 28.70 points or 0.18 per cent to 16,323.30.
Meanwhile, foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 719.88 crore, as per exchange data.
Global oil benchmark Brent crude futures advanced 0.22 per cent to USD 71.45 per barrel.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
RBI announces MPC schedule for FY25, first rates decision on April 5
Seven out of ten Indian shoppers say they would happily receive product deliveries without additional packaging
Renault Nissan to launch four new products, expand product portfolio
Sensex, Nifty rebound on heavy buying in Reliance Industries, HDFC Bank
IndiGo to fly more international routes, destinations; aims doubling size by 2030: CEO Pieter Elbers
MUST WATCH
Latest Additions
Union minister Hardeep Puri compares Sunita Kejriwal to Rabri Devi
For ‘Bhoomi Putra’ Kharge, prestigious LS poll battle in Karnataka
Special court convicts 7 people in BSP MLA Raju Pal murder case
LS polls: More than 79,000 violations reported so far through C-Vigil app, says EC
EAM Jaishankar meets Ukranian counterpart Kuleba