Rupee up 6 paise to 73.36 against US dollar in early trade

Rupee up 6 paise to 73.36 against US dollar in early trade

PTIUpdated: Friday, May 14, 2021, 10:53 AM IST
article-image
Representational Image/Rupee |

The Indian rupee opened on a flat note and inched higher by 6 paise to 73.36 against the US dollar in early trade on Friday amid a muted trend in the domestic equity market.

At the interbank foreign exchange, the domestic unit opened at 73.41 against the dollar, then inched 6 paise higher to 73.36 against the American currency.

On Wednesday, the rupee had settled at 73.42 against the American currency.

The forex market was closed on Thursday for Id-Ul-Fitr.

"Most of the Asian currencies are trading weaker against the dollar and could weigh on sentiments," Reliance Securities said in a research note.

Investors will look to cues from April trade data and April wholesale price inflation data. RBI is also expected to release the weekly forex reserves data after market hours, the note added.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.05 percent to 90.70.

Global oil benchmark Brent crude futures fell 0.39 percent to $66.79 per barrel.

On the domestic equity market front, BSE Sensex was trading 10.32 points or 0.02 percent higher at 48,701.12, while the broader NSE Nifty fell 14.25 points or 0.1 percent to 14,682.25.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,260.59 crore, as per exchange data.

RECENT STORIES

Finance your electric scooter purchase with a hassle-free two-wheeler loan from Bajaj Finance

Finance your electric scooter purchase with a hassle-free two-wheeler loan from Bajaj Finance

Indian Team Arrives In Washington For Key Trade Talks, Focus On Easing Tariffs & Reaching First...

Indian Team Arrives In Washington For Key Trade Talks, Focus On Easing Tariffs & Reaching First...

Markets Bounce Back After Four-Day Losing Streak, Retail Inflation Hits Six-Year Low At 2.1%

Markets Bounce Back After Four-Day Losing Streak, Retail Inflation Hits Six-Year Low At 2.1%

HCL Tech Q1 FY26 Results: Net Profit Falls 10% To ₹3,843 Crore, Revenue Up 8% YoY; Declares ₹12...

HCL Tech Q1 FY26 Results: Net Profit Falls 10% To ₹3,843 Crore, Revenue Up 8% YoY; Declares ₹12...

Income Tax Dept Raids 150 Locations Across Country Against Fraudulent Tax Benefits And Fake TDS...

Income Tax Dept Raids 150 Locations Across Country Against Fraudulent Tax Benefits And Fake TDS...