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Rupee trades flat at 71.26 per dollar

The currency market was shut on Wednesday on account of Christmas holiday.

December 26, 2019 / 10:43 AM IST

The Indian rupee is trading flat at 71.26 per dollar with flat trading witnessing in domestic equity market.

It opened flat at 71.27 per dollar versus Tuesday' close of 71.27.

Gold prices held steady on Thursday below a near two-month peak hit on Christmas eve, as investors await details of a trade deal signing ceremony between the United States and China.

The currency market was shut on Wednesday on account of Christmas holiday.

The rupee depreciated by 9 paise to close at 71.27 against the US dollar on Tuesday amid heavy selling in domestic equities and steady rise in crude oil prices.

Close

Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-US trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode.

The dollar-rupee January contract on the NSE was at 71.53 in the previous session. Open interest rose 14.8% in the previous session, said ICICIdirect.

We expect the USD-INR to find support at lower levels. Utilise upsides in the pair to initiate long positions, it added.
Moneycontrol News
TAGS: #Rupee
first published: Dec 26, 2019 09:00 am

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