Rupee on August 18: Here’s how it fared against other currencies

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The Indian rupee against the dollar has ended at 74.24 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 appreciated by 11 paise to close at 74.24 against the US dollar on Wednesday, tracking weaker American currency against key rivals overseas.

The domestic currency opened strong at 74.30 per dollar at the interbank foreign exchange market. It floated in a range of 74.24 to 74.31 during the session. The domestic unit finally settled at 74.24 against the greenback, a gain of 11 paise over its last close.

The rupee had settled at 74.35 against the greenback on August 17.

Market volatility

The market volatility on Wednesday kept the rupee rise in check. The domestic equities experienced intense selling pressure and crude prices also witnessed a surge.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.10% to 93.05%.

The global oil benchmark Brent crude futures surged 0.77% to $69.56 per barrel.

On the domestic equity market front, Sensex slipped 489 points from its record highs of 56,118 to end at 55,629, lower by 162 points or 0.29%. Nifty50 also dropped below the 16,600 mark to settle at 16,568, declining 45 points or 0.28%. Earlier in the day, Nifty hit a new peak of 16,701.

Meanwhile, foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 343.73 crore, according to the exchange data.

European shares fell across the board while Asian stocks were in the green as investors monitored inflation data and looked ahead to the minutes from the Federal Reserve’s latest meeting.

Check the exchange rate of currencies against the Indian rupee