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Rupee rises 3 paise to 73.08 amid weak dollar, positive equities

The domestic unit opened at 73.10 per US dollar and rose 3 paise higher to 73.08 over its previous close

twitter-logoBusinessToday.In | January 7, 2021 | Updated 11:24 IST
Rupee rises 3 paise to 73.08 amid weak dollar, positive equities
On Wednesday, the rupee had settled at 73.11 per American currency

Indian rupee, the domestic currency appreciated 3 paise to 73.08 per US dollar on Thursday'opening trade, tracking positive domestic equities and weak American currency.

The domestic unit opened at 73.10 per US dollar and rose 3 paise higher to 73.08 over its previous close.

Reliance Securities said in a research note,"Most Asian currencies were weak against the greenback this morning and could weigh on sentiments.""Both Democrat candidates have won in the Georgia Senate runoffs. The Democrats now effectively have control of the Senate as well. The President, Senate, House are all Democrat which makes legislation easy to pass," said Abhishek Goenka, Founder and CEO, IFA Global.

Meanwhile, the dollar index fell 0.14 per cent to 89.40 against a basket of six currencies.

On the domestic equity market front, market indices traded on a bullish note on Thursday, amid positive global equities. Sensex rose 250 points to 48,416 and Nifty was rising by 75 points to 14,215.

Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.

Brent crude futures, the global oil benchmark, rose 0.77 per cent to USD 54.72 per barrel. Oil price continued its uptrend to touch highest level since February after Saudi Arabia's announced to make production cut and US crude inventories dropped.

Stocks in news: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti

Share Market Live News: Sensex up 250 points, Nifty at 14,215; M&M, ONGC, Bajaj twins, SBI, L&T top gainers

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