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January 19, 2021

Rupee rises against dollar, reaches 74.82 level

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New Delhi: The rupee has gained eight paise to 74.82 per dollar in early trade today due to positive trend of the stock markets and weak US currency. However, later it declined marginally and came down to Rs 74.88. The rupee strengthened after opening at 74.86 per dollar in the interbank foreign exchange market and rose by eight paise to 74.82 per dollar. The rupee had closed at 74.90 per dollar on Friday. At 2 pm, the rupee was trading at Rs 74.88 per dollar.

IFA Global founder and CEO (CEO) Abhishek Goenka said, Asian currencies were showing gains against the dollar. Today, the rupee will be in the range of 74.79 to 75 per dollar. Forex dealers have said that the rupee has gained due to the strength in the stock markets, weakness in the US dollar and cash flow of foreign funds. At the same time, increasing cases of US-China tension and Corona epidemic are negatively impacting the sentiment of investors.

The impact of the global market is being seen at the level of the rupee, and the rupee had a downward trend for the past few days, which has shown some strength today. On Friday, the US markets saw excellent growth and this has had an impact on the turnover of the dollar and the dollar has strengthened. Even after this, the rupee has seen strength in the initial phase, which is a matter of comfort for investors.

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