Markets News

Indian Rupee opens High at 73.17 per dollar, gains up against previous close

Opening at 11 paise above the rate of 73.28 per dollar (previous Close, Indian rupee acquired high opening trade on January 19.

Amid buying in the domestic equities, rupee gained against the previous close and is currently trading at 73.17.

The Sensex peaked up at 0.72% 350.33 points at 48914.60 and accordingly, Nifty gained points at 103.00 or was at 0.72% at 14384.30 at 10:01 IST.

The dollar indices have been stabilized before Biden took over Donald Trump where rupee transacted feebly at the rate 73.25.

Upcoming session can bring the dollar taking support at $90.00 with USDNIR boosting up at 73.00 or 73.55, as per experts.

The dollar drifted the highest on Tuesday. Traders expected Yellen to declare a more conventional market-set currency rate.

Recently the newly elected US president Joe Biden unfolded the USD 1.9 million proposal. This proposal was expected to have an impact on the dollar market, which interestingly didn’t have such pressure on US dollar.

The dollar-rupee series was at Rs 73.32 in the last session of NSE and was also expected to remain the same for upcoming weeks.

A marginal decline was observed in the month of January in initial period in the dollar-rupee contract. Although, increase of almost 15% is already in view for the month of February according to experts.

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