Rupee opens flat at 73.03 per dollar

rupee

Indian rupee opened flat at 73.03 per dollar on Friday against previous close of 73.04, amid buying seen in the domestic equity market.

On January 28, rupee ended 12 paise lower at 73.04 per dollar against previous close of 72.92.

At 10:06 IST, the Sensex was up 108.53 points or 0.23% at 46982.89, and the Nifty was up 38.80 points or 0.28% at 13856.30.

USDINR pair moved above 73 levels once again primarily due to strength in dollar index along with continued weakness seen in equities. For the February series, the Call base is placed at 73.50, which should be immediate hurdle for the pair, said ICICI direct.

The dollar-rupee February contract on the NSE was at Rs 73.27 in the last session. The open interest declined by 7% for February series, it added.

Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar.

Oil prices were mixed on Friday as a pending supply cut by Saudi Arabia and lower U.S. oil stocks helped counter risks of slowing fuel demand due to stalled vaccine rollouts and contagious new coronavirus strains.