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Rupee ends lower at 74.05 per dollar

The range of 73.90 - 74.50 can continue due to major update yet to be announced in terms of US stimulus package, says Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.

November 27, 2020 / 03:45 PM IST
Representative Image

Representative Image

Indian rupee erased the intraday gains and ended 17 paise lower at 74.05 per dollar, amid volatile trade seen in the domestic equity market.

It opened higher at 73.79 per dollar against previous close of 73.88 and traded in the range of 73.76-74.07.

At 12:56 IST, the Sensex was down 3.70 points or 0.01% at 44256.04, and the Nifty was up 5.90 points or 0.05% at 12992.90.

Oil prices were mixed on Friday in quiet trade due to the U.S. Thanksgiving holiday, with West Texas Intermediate (WTI) dropping more than 1% amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.

The dollar held steady in thin trade on Friday but was on track for weekly losses against a basket of major currencies as it remained under pressure on improving risk appetite.

Close
"Rupee traded muted by afternoon trade Thursday tracking the dollar index muted trades. Profit booking in stocks by traders is supporting the pair USDINR as compared to dollar index which fell. The range of 73.90 - 74.50 can continue due to major update yet to be announced in terms of US stimulus package," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.
Moneycontrol News
TAGS: #Rupee
first published: Nov 27, 2020 10:00 am

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