Rupee on August 26: Here’s how it fared against other currencies

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The Indian rupee against the dollar has ended at 74.22 today. The currency rate differs daily and is updated frequently due to change in economic performance, inflation, interest rate differentials, and capital flows. On Tuesday, the rupee eked out a marginal 2 paise gain to close at 74.22 (provisional) against the US dollar. This was pushed by the muted trend in the domestic equities. The investors are awaiting cues from the key speech from US Federal Reserve Chair Jerome Powell on Friday, according to the forex traders. That’s why the domestic unit is seen trading in a narrow range.

The investor sentiment was driven by a strong dollar in the overseas markets and rising crude prices.

The local unit opened strong at 74.22 against the greenback at the interbank forex market. In the day trade, it moved in a range of 74.11 to 74.27. Registering a rise of 2 paise over its previous close, it ended at 74.22 against the American currency.

The 30-share BSE index settled at 55,949.10, up 4.89 points or 0.01%. The broader NSE Nifty closed at 16,636.90, up 2.25 points or 0.01%.

The dollar index which tracks the greenback’s strength against a group of six currencies dipped 0.05% to 92.87.

Brent crude futures, the global oil benchmark, increased 0.60% to $71.82 per barrel.

In the capital market on August 25, foreign institutional investors were net sellers. FPIs offloaded shares worth Rs 1,071.83 crore, as per exchange data.

Check the exchange rate of currencies against the Indian rupee