Indian rupee recovers in opposition to UAE dirham in early commerce – Information

Most Asian currencies had been stronger in opposition to the US greenback on Wednesday morning

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Printed: Wed 20 Apr 2022, 9:46 AM

The Indian rupee appreciated 19 paise to 76.31 in opposition to the US greenback (20.79 versus the UAE dirham) in opening commerce on Wednesday, monitoring constructive tendencies amongst Asian and rising market currencies.

On the Indian interbank overseas trade, the rupee opened at 76.41 in opposition to the American greenback, then gained additional floor to cite at 76.31, registering an increase of 19 paise from the final shut.

On Tuesday, the rupee depreciated by 21 paise to shut at 76.50 in opposition to the US greenback.

The greenback index, which gauges the buck’s energy in opposition to a basket of six currencies, was buying and selling 0.32 per cent decrease at 100.64.

“Expectations of faster fee hike continued to push the greenback and the bond yields increased and can proceed to weigh on sentiments,” mentioned Sriram Iyer, senior analysis analyst at Reliance Securities.

Most rising market and Asian friends had been stronger in opposition to the US greenback this Wednesday morning and will enhance investor sentiments.

On the Indian fairness market entrance, the 30-share Sensex was buying and selling 395.78 factors or 0.70 per cent increased at 56,858.93 factors whereas the broader NSE Nifty superior 125.70 factors or 0.70 per cent to 17,084.35 factors.

International oil benchmark Brent crude futures rose 1.03 per cent to $108.35 per barrel.

(with inputs from PTI)

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