Markets News

Indian Rupee started the session marginally higher at 72.65 per dollar

The Indian Rupee has opened marginally higher at Rs 72.65 per dollar on February 16, 2021 against its previous close.

It closed at Rs 72.69 on Monday on the back of good buying in the domestic equity markets.

Domestic units closed at day’s low near 72.69 per dollar against its last close of Rs 72.75 on February 15.

The Sensex surged up at 157.27 points moving up by 0.30 percent to close at 52,311.40 levels at 10:02 IST. Meanwhile, the Nifty also climbed up by 58.80 points or 0.38% to settle at 15,373.50 levels.

Rupee appreciation is expected to move towards 72.50.

USDINR future remained to drop down with dollar moving more closer to its weeks low.

Also, the US dollar nailed down on Tuesday amid boost in the British pound. The vaccine optimism has strengthened the British pound resulting it to surge up approximately three-year high levels.

Moreover, the soaring oil prices and strong global recovery expectations have supported the rally.

The ongoing positive trend on the trade has exposed the currencies.

It is moreover important to note the global hike in the oil prices. The oil prices increased on Tuesday on the back of shut wells and oil refineries in the Texas.

Texas is one of the biggest crude oil producers in the United States/ USA and also world’s biggest oil producer.

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