The rupee depreciated by 29 paise at 74.84 against the US currency on February 22
The rupee depreciated by 29 paise at 74.84 against the US currency on February 22
Tracking positive domestic equities, the rupee rose 21 paise to 74.63 in early trade on February 23 as investors continued to watch the latest developments around Ukraine.
In the interbank foreign exchange market, the local currency opened on a strong note at 74.64 per dollar and touched a high of 74.63, registering a gain of 21 paise over its previous close.
on February 22, The rupee depreciated by 29 paise at 74.84 against the US currency,
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04% higher at 96.06.
The Indian rupee strengthened against the US dollar on February 23 as the greenback declined and crude oil prices also saw some correction from Tuesday’s highs, said Sriram Iyer, Senior Research Analyst, Reliance Securities.
However, most Asian and emerging market currencies were still weak against the US dollar as a cautious tone could set in and limit appreciation bias for the currency.
On 21 February Russian President Vladimir Putin signed the decree for Recognize as “independent” the territories of the “Donetsk and Luhansk People’s Republics” of Ukraine, escalating tensions in the region and growing fears of Moscow’s invasion of Ukraine. In retaliation, the US, the European Union and Japan announced a series of sanctions on Russia.
The meeting between the US Secretary of State and the Russian Foreign Minister on Thursday has also been cancelled.
Feather domestic equity marketTee front, the 30-share Sensex was trading 218.36 points or 0.38% higher at 57,519.04, while the broader NSE Nifty rose 66.00 points or 0.39% to 17,158.20.
Global oil benchmark Brent crude futures rose 0.31% to $97.14 a barrel.
Foreign institutional investors were net sellers in the capital markets on Tuesday as they sold shares worth Rs 3,245.52 crore, according to stock exchange data.
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