Rupee gains for 5th consecutive session to settle at 74.15 / USD



The rupee rose 2 peas to close at 74.15 (provisional) against the US dollar, marking its fifth straight session of gains on Friday, following the RBI’s monetary policy announcement.

In the interbank forex market, the rupee opened at 74.11 and hit an intraday high of 74.10 and a low of 74.22. It finally closed at 74.15, up 2 paise from its last close.

On Thursday, the rupee stood at 74.17 against the US dollar.

The Reserve Bank of India (RBI) on Friday decided to keep the benchmark interest rate unchanged at 4%, but has maintained an accommodative stance as the economy has yet to recover from the impact of the second wave of COVID.

The RBI, however, has raised the projection for retail price inflation for the current year to 5.7% due to supply side hurdles, firm crude oil prices and the higher cost. raw material.

Futures on Brent crude, the world’s benchmark for oil, rose 0.59% to $ 71.71 per barrel.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.18% to 92.41.

On the national stock market front, the BSE Sensex finished lower 215.12 points or 0.39% to 54,277.72, while the broad NSE Nifty index lost 56.40 points or 0 , 35% at 16,238.20.

Meanwhile, foreign institutional investors were net sellers in the capital market on Thursday as they dumped stocks worth 719.88 crore, according to exchange data.


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