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Rupee opens 5 paise higher at 74.97 per dollar

The rupee closed 20 paise lower on August 20 and settled below the 75 per US dollar mark.

August 21, 2020 / 10:21 AM IST

The Indian rupee opened with a gain of 5 paise at 74.97 per dollar on August 21 as the market sentiment improved and the greenback slipped against its global peers.

A bounce in the dollar in the wake of the release of Federal Reserve minutes that fell short of dovish market expectations wore off fairly quickly and it looks headed for a ninth consecutive weekly loss against a basket of currencies, news agency Reuters reported.

The rupee had closed 20 paise lower on August 20 and settled below the 75-per US dollar mark. In the interbank forex market, the local unit settled at 75.02.

On August 21, major Asian markets were up after a tech-driven rally on Wall Street in which the Nasdaq hit a record high despite downbeat data that affirmed the Fed's dour outlook on US economic recovery.

Back home, BSE Sensex was up 272 points at 38,492.86 and Nifty 75 points at 11,387.65 around 1010 hours.
Moneycontrol News
Tags: #Rupee
first published: Aug 21, 2020 10:21 am
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