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
PHF Leasing Limited announces hiring of over 200 people over the next two quarters
Patanjali advertising case: SC asks Ramdev, Balkrishna to appear before it
Markets surrender early gains to trade lower
US Fed interest rate decision key event to watch out for this week: Analysts
DGCA sticks to June 1 deadline for revised flight duty norms; says aim is to alleviate pilot fatigue
MUST WATCH
Latest Additions
Cal HC refuses urgent hearing of demolition matters, says “let human lives be saved”
Manipur govt in favour of UPSC exam centres outside state: Delhi HC told
Himachal: BJP delegation meets chief electoral officer, complains of model code of conduct violations
Suspected honor killing: Couple brutally murdered
PM Modi’s ‘400 paar’ claim ‘hollow’, INDIA bloc will get clear majority to form govt: Baghel