Rupee gains 40 paise against US Dollar tracking domestic markets

25 Feb 2022 , 12:33 PM

The Indian Rupee gained against US Dollar on Friday tracking domestic equity markets. The currency recovered sharply this morning after a brutal sell-off, as traders contemplate the Reserve Bank of India’s move to spend its forex reserves.

The domestic currency opened at 75.40 per US Dollar as against its previous closing of 75.64/$. It was last seen at 75.23 against US Dollar, gaining further 17 paise in today’s trade. So, it gained 40 paise against US Dollar.

On the domestic front, the broader indices opened healthy after nosediving in Thursday’s trade. BSE Sensex was trading at 55,879.32 points, up by 1349.41 points (+2.47%) so far. Nifty NSE also cheered as the market gains consciousness and was trading 419 (2.58%) points higher at 16,667 points.

The Indian currency has witnessed a heavy downfall this week as Russia’s invasion of Ukraine shot oil prices to seven-year highs. Government bonds remained steady as the yields for 10-year papers remains unchanged at 6.76%.

On the global front, the US Dollar index was trading at a lower level of 96.86 points, down by 0.29% against its previous closing.

Brent Crude edged up as the tensions in Ukraine intensifies and was currently at $100.98 per barrel, up by 1.58% so far. WTI Crude gained 2% and was trading at $94.67.