Rupee trades in a narrow range in early session against US dollar
PTI, Jan 17, 2022, 11:04 AM IST
Mumbai: The Indian rupee was trading in a narrow range in morning trade on Monday as elevated crude oil prices negated the impact of positive domestic equities.
At the interbank foreign exchange, the rupee opened lower at 74.18 against the American dollar, then inched higher to 74.16, registering a fall of 1 paisa from the last close.
On Friday, the rupee had slumped 25 paise to close at 74.15 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading unchanged at 95.16.
The Indian Rupee opened weaker versus the dollar tracking the strength of the greenback and strengthening bond yields, Reliance Securities said in a research note.
Moreover, the strength of crude oil and a weak start in Asian and emerging market peers could also weigh on the local unit this Monday.
On the domestic equity market front, the 30-share Sensex was trading 40.37 points or 0.07 per cent higher at 61,263.40, while the broader NSE Nifty advanced 22.05 points or 0.12 per cent to 18,277.80.
Global oil benchmark Brent crude futures rose 0.06 per cent to USD 86.11 per barrel.
Foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth Rs 1,598.20 crore, as per stock exchange data.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
Elon Musk says India visit delayed due to Tesla obligations
MUST WATCH
Latest Additions
Shah holds roadshow in West Bengal’s Malda
EC not acting in non-partisan manner, says Pinarayi Vijayan on PM’s remarks regarding Muslims
Referred to Gandhi’s old name due to his recent statements helping BJP: Vijayan
From Orbit to Earth: ISRO’s Contributions to Understanding Himalayan Glacial Shifts
Udupi-Chikkamagaluru polls: Brahmavar block Cong committee plans public meeting on April 23