Rupee Declines To 73.17 Against Dollar Even Amid Market Gains

The rupee declined by 15 paise against the US dollar on Tuesday, January 5, to close at 73.17 (provisional) even as the domestic equity markets settled with significant gains. According to forex traders, sustained foreign fund inflows and weakness of the American currency in the overseas market restricted the rupee’s decline. At the interbank foreign exchange market, the local unit opened flat at 73.02 against the dollar and registered an intra day of 73.02. It witnessed a low of 73.27 during the session. Settling at 73.17, it slipped 15 paise over its previous close. On Monday, January 4, the domestic unit gained marginally by nine paise to settle at a four-month high of 73.02 against the American currency. 

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.19 per cent to 89.69. On the domestic equity market front, the BSE Sensex ended 260.98 points or 0.54 per cent higher at 48,437.78, while the broader NSE Nifty advanced 66.60 points or 0.47 per cent to 14,199.50.

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