Rupee Edges Higher To 74.19 Against Dollar Amid Positive Domestic Equities

Rupee Vs Dollar Today: The rupee acclimatized at 74.19 adjoin the dollar

The rupee adequate by three paise adjoin the US dollar on Tuesday, August 24, to achieve at 74.19 tracking a able assemblage in calm equities. At the interbank adopted barter market, the calm assemblage opened at 74.12 adjoin the dollar and swung amidst 74.11 to 74.20 during the trading session. In an aboriginal barter session, the bounded assemblage rose paise to 74.13 adjoin the greenback. The rupee bankrupt at 74.19, registering a acceleration of three paise adjoin its antecedent close.

Meanwhile, the dollar index, which gauges the greenback's backbone adjoin a bassinet of six currencies, rose 0.07 per cent to 93.04.

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:

“USDINR atom bankrupt flat, abreast 74.20 levels as RBI captivated the $ inflows. Weak US Dollar Basis and able disinterestedness markets had little appulse on the brace due to axial coffer intervention. USDINR may abide in a absent appearance advanced of Jackson Hole accident on Thursday and Friday. We apprehend a ambit of 73.90 to 74.40 levels over the abreast term.”   

''Globally, the safe heaven dollar absent drive and traded abreast 93 levels as bread-and-butter abstracts appear that US private-sector advance slowed to an 8-month low while the accomplishment area slowed at 4 ages low. However, this could be brief and the dollar could assemblage amidst expectations the Fed could alpha to affluence aback on asset purchases this year. 

Domestically, ample weakness in the dollar and absolute Indian equities accept been in abutment for the rupee. That apart, account of privatization affairs to advertise Rs 6 abundance account of state-owned assets over the advancing four years to accession accessible affairs aerial the sentiments.''

Kshitij Purohit, Lead International & Commodities at CapitalVia All-around Research Limited:

''The rupee adjoin the US dollar basis bankrupt higher, closing at 74.22, up 30 paisas. In general, the dollar basis showed a abrogating closing amount changeabout abeyant aloft the antecedent day. The US dollar traded hardly adjoin a bassinet of above currencies aboriginal on Monday. The safe-haven dollar fell from a nine-and-a-half-month aerial on Friday, as accident appetence added as the criterion bazaar rose, and bandage yields soared.

Because of the accretion in all-around stocks, the USD/INR opened the day at 74.27, bottomward 11 paise/USD from the antecedent day's closing. The bigger accident appetence is accepted to accumulate the USD/INR in a bandage of 74.20 to 74.50 in accessible sessions.''

On the calm disinterestedness bazaar front, the BSE Sensex concluded 403.19 credibility or 0.73 per cent college at 55,958.98, while the broader NSE Nifty climbed 128.15 credibility or 0.78 per cent to 16,624.60. The disinterestedness benchmarks surged today and bankrupt at almanac highs paced by assets in banking, banking services, and metal shares.

Shrikant Chouhan, Executive Vice President, Disinterestedness Technical Research at Kotak Securities:

''Key criterion indices maintained absolute drive for the additional beeline affair on the aback of a able atmosphere in financials, metals, and oil & gas stocks. The arrangement of the pullback assemblage indicates the basis is acceptable to consolidate amidst 16500 to 16720 levels. In addition, on the intraday chart, the basis has formed a college basal accumulation which suggests added uptrend from the accepted levels.''

According to barter data, the adopted institutional investors remained net sellers in the basic bazaar on August 23 as they offloaded shares account Rs 1,363.36 crore. Brent awkward futures, the all-around oil NSE 1.75 per cent benchmark, added 1.34 per cent to $ 69.67 per barrel.

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