Rupee falls 18 paise at 73.30 against USD, gold falls by Rs 15

Mumbai, Apr 05 (PTI): The rupee declined by 18 paise to close at 73.30 (provisional) against the US currency on Monday on strong American currency and risk aversion in the domestic market amid concerns over rising COVID-19 cases.
Besides, losses in domestic equity markets weighed on investors’ sentiment. At the interbank forex market, the local unit opened at 73.38 against the greenback and traded in the range of 73.28 to 73.45 during the day. The rupee finally ended at 73.30 against the American currency, registering a fall of 18 paise over its previous closing of 73.12. The forex market was closed on April 2, on account of Good Friday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05 per cent to 93.06. “The Indian Rupee depreciated amid strong dollar and risk aversion in the domestic markets. Dollar is gaining strength amid surge in US treasury yields and upbeat economic data,” said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
Further, the rupee may slip on concern over rising COVID-19 cases in India.
Gold was marginally lower by Rs 15 to Rs 44,949 per 10 gram in the national capital on Monday amid muted trading and tepid global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 44,964 per 10 gram.
Silver also dipped by Rs 216 to Rs 64,222 per kilogram from Rs 64,438 per kilogram in the previous trade.
“Spot gold prices for 24 carat in Delhi were down by Rs 15 on muted trading,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
In the international market, gold was quoting lower at USD 1,727 per ounce and silver was flat at USD 24.78 per ounce.