Rupee Vs Dollar Today: The rupee settled at 72.55 versus the dollarThe rupee decreased 12 paise lower against the United States dollar on Wednesday, March 24, to settle at 72.55, following other Asian peers in the middle of concerns over increasing COVID-19 cases.
Also, the local system experienced a decrease as investor belief was weighed due to massive selloff in domestic equity markets today and a spike in global crude oil rates.
At the interbank forex market, the local system opened lean at 72.51 against the dollar, having actually swung in between an intra day high of 72.51 and an intra day low of 72.69 during the session.In an early trade session, the rupee depreciated 10 paise to 72.53 versus the greenback, due to heavy selloff in domestic equities.
The regional unit signed up a fall of 12 paise over its previous close, settling at 72.55 against the American currency.
The dollar index, which determines the greenback's strength against a basket of six currencies, gotten 0.13 per cent to 92.46.
The coronavirus fears are resurfacing as cases have begun to tick up all over the world.
This is moistening the resuming and recovery optimism and will keep the safe-haven dollar need intact.
Nevertheless, there is IPO euphoria in the market which is keeping the area listed below 73 levels.
Until the area is trading listed below 73 zone, the trend will be bearish, with important support being 72.25, said Rahul Gupta, Head Of Research Study- Currency, Emkay Global Financial Services.On the domestic equity market front, the 30-share BSE benchmark Sensex fell 871.13 points to end at 49,180.31, and the wider NSE Nifty declined 265.35 points to 14,549.40.
Today was a bad day for the market.
The breadth of the marketplace was very poor.
About two-third of the noted stocks were down in addition to all sectoral indices closed in unfavorable area.
The Nifty/ Sensex closed lower at 14549/49180.
Tomorrow ahead of the March 2021 F&O expiry the marketplace is likely to be in chaos stage and the Nifty/ Sensex may fall to 14350/48580 to 14250/48300 levels, stated Shrikant Chouhan, Executive Vice President, Equity Technical Research Study at Kotak Securities.According to exchange data, the foreign institutional investors were net sellers in the capital market on Wednesday as they offered shares worth Rs 1,951.90 crore.
Worldwide oil benchmark brent crude climbed up 3.08 per cent to $ 62.66 per barrel.