Rupee Vs Dollar Today: The rupee settled at 72.99 against the dollarThe rupee depreciated eightpaise against the US dollar on Friday, June 4, to settle at72.99 (provisional), with foreign exchangemarket participants weighing Reserve Bank of India (RBI)Monetary Policy measures aimed at mitigating the COVID-19 impact on the economy.At the interbank foreign exchangemarket, the domesticunit opened on a weak note at 73.00 against the dollarand registeredan intra-day high of 72.95.
It witnessed a low of 73.13.
In an early trade session, the local unit declined 10 paise to 73.01 against the greenback.The domestic currency closed at 72.99, registering a fall of eight paise over its previous closing.
On Thursday, June 3, the rupeehad settled at 72.91 against the greenback.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.01 per centto 90.51.The central bank, in its bi-monthly monetary policy meeting, voted unanimouslytoleave the benchmark interest rate unchanged at four per cent, andmaintained an accommodative stance amid the second COVID wave.The RBI policy did not have a major reaction on the fx market, and USDINR spot is flat as traders wait for the US NFP data.
The US NFP data will be a key determinant of the market mood for June.
After yesterday's ADP jobs data, expectations have increased for a strong reading of nonfarm payrolls and a stronger-than-expected figure will squarely puts the focus on the FOMC meeting on 16 June, probably sending the dollar higher against its major peers,'' saidMr.
Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.On the domestic equity market front, the BSE Sensex ended 132.38 points or 0.25 per cent lower at 52,100.05, while the broader NSE Nifty declined 20.10 points or 0.13 per centto 15,670.25.''Equity markets in India continued their upward march amid improving situations relating to the second Covid wave and expectation of gradual ease down in lockdown restrictions.
This week saw both Sensex and Nifty making a record closing high,'' saidShrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.''Expectation of normal monsoon, accommodative stance by RBI,the decline in fresh Covid cases in India, gradual easing of lockdown restriction and positive global cues would likely lend support to the market in the near term,'' he added.According to exchange data, the foreign institutional investors were net buyers in the capital market on June 3 as they purchased shares worth Rs1,079.20 crore.
Brent crude futures, the global oil benchmark, rose 0.49 per centto $71.66 per barrel.