Rupee on August 17: Here’s how it fared against other currencies

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The Indian rupee against the dollar has ended at 74.35 today. The currency rate differs daily and is updated frequently due to change in economic performance, inflation, interest rate differentials, and capital flows.

The rupee on Tuesday dropped by 11 paise to close at 74.35 against the US currency due to a stronger dollar in the overseas markets. The domestic currency opened flat at 74.23 against the American currency but later slipped to close at 74.35 at the interbank foreign exchange market.

The local unit touched an intra-day high of 74.21 and a low of 74.36 against the US currency during the session.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06% higher at 92.68.

On August 13, the rupee had settled at 74.24 against the US dollar.

On August 16, the forex market was closed on account of ‘Parsi New Year’.

Oil prices and markets’ performance

Shares in Europe and Asia declined on Tuesday. The ongoing coronavirus pandemic and spread of the highly transmissible delta Covid-19 variant has rattled investor’s confidence. Oil prices also erased earlier gains amid persistent worries about the outlook for global fuel demand.

Brent crude futures, the global oil benchmark, fell 0.37% to $69.25 per barrel.

On the domestic equity market front, the BSE Sensex ended 209.69 points or 0.38% higher at 55,792.27, while the broader NSE Nifty advanced 51.55 points or 0.31% to 16,614.60.

Meanwhile, foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,088.32 crore, according to the exchange data.

Investors are also monitoring the potential geopolitical implications following the Taliban’s seizure of Kabul, the capital city of Afghanistan.

Check the exchange rate of currencies against Indian rupee