Indian rupee slips to twenty.28 versus UAE dirham – Information

The greenback index elevated by 0.19% to 96.85.

Agencies file

Companies file

Printed: Mon 3 Jan 2022, 9:48 AM

The Indian rupee began 2022 on a muted be aware because it slipped 14 paise to 74.43 in opposition to the US greenback (20.28 in opposition to Emirati dirham) in opening commerce on Monday, monitoring weak macroeconomic information.

On the Indian interbank overseas alternate, the rupee opened weak at 74.35, then fell additional to 74.43 in opposition to the dollar, registering a decline of 14 paise from the final shut. The rupee additionally touched an early excessive of 74.31 in opposition to the dollar in preliminary offers.

The greenback index, which gauges the dollar’s power in opposition to a basket of six currencies, elevated by 0.19 per cent to 96.85.

On the macroeconomic entrance, India’s present account slipped right into a deficit of $9.6 billion or 1.3 per cent of GDP within the September quarter, the Reserve Financial institution mentioned on December 31.

Foreign exchange merchants mentioned rising considerations over the Omicron variant of coronavirus and its influence on financial restoration in addition to agency crude oil costs weighed on the rupee.

Nonetheless, good points within the Indian fairness markets helped comprise the rupeeā€™s slide on Monday morning. The 30-share Sensex was buying and selling 490.38 factors or 0.84 per cent greater at 58,744.20, whereas the broader NSE Nifty superior 136.35 factors or 0.79 per cent to 17,490.40.

(with inputs from PTI)

Supply hyperlink