Rupee 10 paise higher at 73.85 against USD

Mumbai, May 04 (PTI): The rupee gained for the second straight day and closed 10 paise higher at 73.85 (provisional) against the US dollar on Tuesday. At the interbank forex market, the rupee opened at 73.83, and hit an intra-day high of 73.76 and a low of 73.97. On Monday, the rupee had settled at 73.95 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, surged 0.42 per cent to 91.33.
“Rupee traded strong as capital markets witnessed some sell-off. There is some support to USDINR at lower levels near 73.80 as crude prices hold rates that can keep prices on rupee resistance beyond 73.75. Going ahead rupee can be seen in a range of 73.75-74.25,” said Jateen Trivedi, Senior Research Analyst at LKP Securities.
Gold prices fell by to Rs 47,161 per 10 gram in futures trade on Tuesday as speculators reduced their positions amid low demand.
On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 158, or 0.33 per cent, at Rs 47,161 per 10 gram in a business turnover of 10737 lots.
Analysts attributed the fall in gold prices to trimming of positions by participants.
Globally, gold traded 0.40 per cent lower at USD 1,784.70 an ounce in New York.

Related Articles

Back to top button