Rupee ends lower at 74.82 per dollar

Indian rupee ended marginally at 74.82 per dollar on August 19, amid buying seen in the domestic equity market

It opened higher at 74.69 per dollar versus previous close of 74.76 and traded in the range of 74.68-74.92.

At 14:20 IST, the Sensex was up 197.90 points or 0.51% at 38726.22, and the Nifty was up 55.90 points or 0.49% at 11441.30.

The dollar struggled to recoup heavy overnight losses on Wednesday after it slipped to 27-month low the previous session as uncertainties about an economic recovery and the U.S. fiscal stimulus package weighed.

Oil prices slid on Wednesday as concerns grew that U.S. fuel demand may not recover quickly amid stalled talks on a post-coronavirus economic stimulus package, overshadowing a bigger-than-expected drawdown in U.S. crude stocks.

Renewed tensions between the US and China coupled with uncertainty ahead of the release of US Federal Reserve’s last policy meeting minutes are likely to put further pressure on the dollar, said ICICIdirect.

The dollar-rupee August contract on the NSE was at Rs 74.73 in the last session. The open interest in the August series increased 3.46% while it also increased 4.72% in the next series, it added.