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Rupee opens lower at 75.05 per dollar

Expectations of dollar inflows are capping upside for the pair (USD/INR), while the downside is being protected by the RBI, says Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.

August 07, 2020 / 10:06 IST
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Indian rupee opened lower at 75.05 per dollar on Friday against Thursday's close of 74.93.

On August 6, rupee erased intraday gains and ended flat at 74.93 per dollar against Wednesday's close of 74.93.

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At 10:04 IST, the Sensex was down 20.72 points or 0.05% at 38004.73, and the Nifty was up 1.10 points or 0.01% at 11201.30.

"Despite the pause, rupee still remains in a sticky range of 74.50-75.50, and the domestic currency will be guided more by the movement in the dollar index, which is languishing at two- year lows and the pace at which the RBI will look to accumulate its forex reserves," said Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.