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Updated on: Monday, September 06, 2021, 04:17 PM IST

Rupee declines by 8 paise at 73.10 against US dollar

The spot rupee closed 8 paise higher at 73.10 against the dollar due to slight uptick in the US dollar index/Representative image |

The spot rupee closed 8 paise higher at 73.10 against the dollar due to slight uptick in the US dollar index/Representative image |

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The rupee on Monday declined by 8 paise to close at 73.10 (provisional) against the US currency tracking the strengthening of the greenback in the overseas markets.

At the interbank foreign exchange market, the domestic currency opened flat at 73.02, then lost ground and settled for the day at 73.10, down 8 paise over its previous close.

During the trading session, the local unit witnessed an intra-day high of 73.02 and a low of 73.11 against the American currency.

On Friday, the rupee had settled at 73.02 against the US dollar.

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd., said, "The spot rupee closed 8 paise higher at 73.10 against the dollar due to slight uptick in the US dollar index. RBI intervention remains a major factor supporting USDINR near 73 levels. However, upside remains capped near 73.40 as exporters remain active seller."

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.28 per cent higher at 92.29.

Brent crude futures, the global oil benchmark, fell 0.63 per cent to $72.15 per barrel.

On the domestic equity market front, the BSE Sensex ended 166.96 points or 0.29 per cent higher at 58,296.91, while the broader NSE Nifty advanced 54.20 points or 0.31 per cent to 17,377.80.

Meanwhile, foreign institutional investors were net buyers in the capital market on Friday, as they purchased shares worth Rs 768.58 crore, as per exchange data.

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Published on: Monday, September 06, 2021, 04:17 PM IST
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