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Last Updated : Oct 14, 2020 02:08 PM IST | Source: Moneycontrol.com

Rupee ends at day's high at 73.29 per dollar

Some more upside is very likely in coming sessions as capital markets show some selling in financials, says Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.

Representative image
Representative image

In the volatile trading the Indian rupee ended at day's high at 73.29 per dollar, amid selling seen in the domestic equity market.

It opened flat at 73.35 per dollar against previous close of 73.34 and traded in the range of 73.28-73.46.

At 14:06 IST, the Sensex was down 249.59 points or 0.61% at 40375.92, and the Nifty was down 82.10 points or 0.69% at 11852.40.

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"Rupee traded weak on Tuesday on likely dollar buying as dollar index showed strength. Although the market remains in tight range of 72.80-73.75 broadly. Some more upside is very likely in coming sessions as capital markets show some selling in financials," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.

The U.S. dollar held onto gains against most currencies on Wednesday as renewed questions about a coronavirus vaccine and lack of an agreement on additional U.S. fiscal stimulus prompted a shift to safer assets.


 Gold prices lingered below the key $1,900/ounce psychological level on Wednesday as lack of an agreement on additional U.S. fiscal stimulus helped the dollar stay firm.


The USD-INR pair is likely to trade in a range as huge OI build-up was seen in 73.25 strike Put and 73.50, 73.75 strike Calls for the week. A rise in the dollar index would provide some upsides that can be a shorting opportunity, said ICICIdirect.



The dollar-rupee October contract on the NSE closed near 73.38 in the last session. The open interest rose by 1.5% in the last session, it added.

First Published on Oct 14, 2020 10:00 am

tags #Rupee

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