Rupee closes almost stable at 74.46 per dollar

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Rupee closes almost stable at 74.46 per dollar

Mumbai, Nov 15 (PTI) The rupee lost its opening gains against the dollar on Monday and closed almost unchanged at 74.46 against the US dollar at the forex exchange market amid a weak trend in domestic equities. Happened.

Traders, however, said lower crude oil prices in the international market gave some support to the rupee.

In the interbank foreign exchange market, the rupee opened at 74.38 and during trading, the rupee fluctuated in the range of Rs 74.31 to Rs 74.50. The rupee finally closed with an almost unchanged trend at 74.46 against the dollar, down by just one paise. The closing price of the rupee last Friday was Rs 74.45 per dollar.

The 30-share Sensex of BSE closed at 60,718.71 points, up 32.02 points at the end of trading.

The dollar index, reflecting the US dollar’s position against the six major currencies, declined 0.06 per cent to 95.06.

Anindya Banerjee, Vice President, Currency Derivatives & Interest Rate Derivatives, Kotak Securities, said, “We expect a price range of 74.20 and 74.75 in the spot market during this low trading week.”

Meanwhile, WPI-based inflation touched a five-month high of 12.54 per cent in October.

K Gaurang Somaiya, Forex and Bullion Analyst, Motilal Oswal Services, said, “The rupee opened with a flat trend, but declined after a pick-up in inflation in the latter part of the session.”

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