Rupee rises sharply against US dollar today

Abhishek Goenka Usa India Eu Coronavirus

23.04.2020 - 09:51

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The Indian rupee rose sharply against the US dollar today as the risk sentiment improved in global markets. Opening at 76.30 per dollar, the rupee today further strengthened to 76.08 a dollar.

In comparison, the rupee had closed at 76.66 per US dollar in the previous session after pulling back from record lows of 76.91 per US dollar. "Facebook's $5.5 billion acquisition of stake in Jio raised hopes that the FDI picture in FY21 will not be as bleak as earlier thought.

Overall risk sentiment has improved overnight," said Abhishek Goenka, founder and CEO of IFA Global. "The focus will be on the EU meeting today to discuss stimulus measures to fight coronavirus.

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11.02.2022 / 21:51

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Quebec sees big drop in COVID-19 hospitalizations, 39 more deaths added

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Premier Doug Ford declares state of emergency amid protests at land border and in Ottawa

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Rupee rises to about one-month high against the US dollar

The rupee edged up to about one-month high of 75.67 per US dollar amid a rally in domestic equities. Opening at 75.97, the rupee traded in the range of 75.59 to 75.99, as compared to its previous close of 76.18. The Sensex was up about 500 points in late trade. Besides, market sentiments improved as more countries are announcing gradual lifting of lockdowns that have been imposed to contain coronavirus infection.

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Rupee may slide to 80 per US dollar by June-end, say analysts

The Indian rupee today edged closer to 77 a dollar and some analysts say that the Indian currency may hit 80 a dollar over next few months. Today, the rupee hit 76.91 at day's low before closing at 76.67. Though the rupee has significantly outperformed other emerging market currencies in this coronavirus-related market mayhem, selling pressure from outflows from Indian will weigh on the Indian currency, say analysts.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Rupee rises sharply against US dollar today

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