Rupee Vs Dollar Today: The rupee settled at 73.78 against the dollarThe rupee appreciated 13 paise against the US dollar on Thursday, May 6, to settle at 73.78 (provisionary) amid favorable domestic equities and a weaker American currency.
At the interbank foreign exchange market, the domestic unit opened at 73.87 against the dollar and signed up an intra day high of 73.77.
It experienced a low of 74.
In an early trade session, the regional system gained seven paise to 73.84 versus the greenback.
The currency closed at 73.78 versus the dollar, taping a rise of 13 paise over its previous closing.On Wednesday, May 5, the regional unit settled at 73.91 against the greenback.
On the other hand, the dollar index, which evaluates the greenback's strength versus a basket of 6 currencies, slipped 0.30 percent to 91.03.
$ rupee got sold yesterday as premiums fell from their peak as nationalized banks got the premiums potentially on wish of RBI.
Still the carry cost being high $ rupee is getting sold on excellent uptics.
The other day it was sold at 74.04.
73.80 is being supported by RBI while covid cases still continue to be on the greater side, stated Anil Kumar Bhansali, Head of Treasury, Finrex.
The USD/INR pair started the day a little lower at 73.85, comparable to the previous day's close.
The increase in the dollar index has actually stopped the currency set's sag in the middle of fears of a short-term 2nd lockdown 2.0, which might occur in the future, said Kshitij Purohit, Lead International Products - Commodities at CapitalVia Global Research study Limited.On the domestic equity market front, the BSE Sensex ended 272.21 points or 0.56 percent greater at 48,949.76, while the more comprehensive NSE Nifty advanced 106.95 points or 0.73 percent to 14,724.80.
On the day of the weekly expiry of index alternatives, Nifty/Sensex closed at the highest point of the day.
Today, Automobile and Innovation stocks raised the market sentiment greatly.
Due to the follow-up buying, we saw a healing in the metal stocks from lower levels, said Shrikant Chouhan, Executive Vice President, Equity Technical Research Study at Kotak Securities In short, we need to be cautious to add long positions at greater levels.
On the drawback, 14600/48600 and 14500/48300 would be major supports.
The bank-nifty is combining and in the medium term a close above the levels of 33000, he added.According to exchange information, the foreign institutional investors were net sellers in the capital market on May 5 as they sold shares worth Rs 1,110.50 crore.
Brent crude futures, the global oil criteria, fell 0.33 per cent to $ 68.73 per barrel.