Moneycontrol
Get App
Last Updated : Apr 09, 2020 02:09 PM IST | Source: Moneycontrol.com

Rupee ends marginally higher at 76.28 per dollar

Rupee has breached the crucial support around 76.25 levels, and now seems primed to test further lows of around 77.50 mark in coming days, saysSugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.


Indian rupee erased its initial gains but ended marginally higher at 76.28 per dollar on April 9, amid buying seen in the domestic equity market.

However, it has touched a record low of 76.55 per dollar.

It opened 27 paise higher at 76.10 per dollar against previous close of 76.37.

Close

"After a small breather, the Indian rupee has again rolled on the downwards trajectory to test fresh record lows of 76.39 mark, amid continued economic uncertainty and fragile investor sentiments due to growing concerns of coronavirus led economic slowdown," said Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.

"Further exerting pressure on the local unit has been the hardening dollar index and persistent foreign fund outflows. This further skews the bias for the domestic currency on the negative side."

"Rupee has breached the crucial support around 76.25 levels, and now seems primed to test further lows of around 77.50 mark in coming days," she added.

Gold prices rose slightly on Thursday ahead of a U.S. weekly jobless claims report as the dollar inched lower, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing a peak limited the metal's upside.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on Apr 9, 2020 11:17 am

tags #Rupee

Sections
Follow us on