{"id":132463,"date":"2021-07-16T11:40:03","date_gmt":"2021-07-16T11:40:03","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132463"},"modified":"2021-07-16T11:40:03","modified_gmt":"2021-07-16T11:40:03","slug":"rupee-slips-3-paise-to-close-at-74-57-against-u-s-dollar","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/economy\/rupee-slips-3-paise-to-close-at-74-57-against-u-s-dollar\/","title":{"rendered":"Rupee slips 3 paise to close at 74.57 against U.S. dollar"},"content":{"rendered":"
The Indian rupee slipped 3 paise to settle at 74.57 (provisional) against the U.S. dollar on Friday, as investors awaited fresh triggers.<\/p>\n
At the interbank forex market, the local unit opened at 74.53 against the greenback and witnessed an intra-day high of 74.51 and a low of 74.66 during the session.<\/p>\n
The local unit finally ended the day at 74.57, down 3 paise over its last close.<\/p>\n
On Thursday, the rupee had settled at 74.54 against the U.S. dollar.<\/p>\n
"The forex market focus will be on the U.S. retail sales data and consumer confidence data for any reading on inflation and the strength of the recovery.<\/p>\n
"Any solid pace of U.S. economic recovery will underpin the rumours of earlier than expected rate hikes\/quantitative easing (QE) tapering keeping USD\/INR afloat till the July Federal Open Market Committee (FOMC) outcome," said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.<\/p>\n
"So, in USD\/INR spot until the support of 74.40 doesn’t break, the trend will remain towards 75. Only a break of 74.40 will push prices towards 74.00 zone," Mr. Gupta added.<\/p>\n
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06% to 92.56.<\/p>\n
On the domestic equity market front, the BSE Sensex ended 18.79 points or 0.04% lower at 53,140.06, while the broader NSE Nifty declined 0.8% or 0.01% to 15,923.40.<\/p>\n
Global oil benchmark Brent crude futures advanced 0.37% to $73.74 per barrel.<\/p>\n
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth \u20b9264.77 crore, as per exchange data.<\/p>\n