Markets News

Indian rupee opened higher at 72.88 against dollar

Indian rupee opened higher at 72.88 against dollar. It seems that the Indian rupee has came back to its form with the early session on February 9.

The currency has gained in the early trading session today, although the dollar was continuing to gain power.

Previously, the Indian rupee closed at its day low at 72.96 per dollar on February 8 against its Friday’s close. It closed at Rs 72.92 per dollar on Friday.

Coming towards the benchmark indices, it is the second day straight in this week that the Sensex is starting the trade in green.

The Sensex was high at 172 points at 10:03 IST to close at 51,520.77 levels. It was higher by 0.33 percent in the early session and the Nifty also added up by 59 points or 0.39% at 15,174.80 levels.

More on the spot currency, the USDINR pair has fell down below the 73 levels once again. It can moreover decline at a worst level if it loses its current support.

The more concern is towards the continued dollar strength as per ICICI direct report on USDINR.

However, the dollar also fell at its lowest on Tuesday on the back of rally driven by hopes of faster pandemic recovery.

Dollar-rupee February contract was settled at Rs 73.10 in the previous session on the NSE with open interest rate increasing at 8%.

Also, the oil prices have increased on Tuesday to the highest levels in the last 13 months.

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