Rupee gains 8 paise against US Dollar

At the interbank foreign exchange, the domestic unit opened at 74.26 against the dollar, then inched higher to 74.28, registering a gain of 8 paise over its previous close.

Jun 23, 2021 02:06 IST India Infoline News Service

The Indian rupee gained by 8 paise against the US dollar in early trade even as the domestic equity market was trading with significant losses. Federal Reserve Chair Jerome Powell's comments that the US central bank will not raise interest rates too quickly supported investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 74.26 against the dollar, then inched higher to 74.28, registering a gain of 8 paise over its previous close.

The rupee on Monday had settled at 74.37 against the US dollar.

On the domestic equity market front, BSE Sensex was trading 232 points or 0.45% lower at 52,354.27, while the broader NSE Nifty declined 86 points to 15,686.50.

Besides, foreign institutional investors were net sellers on Tuesday in the capital market as they offloaded shares worth Rs1,027.94cr, as per exchange data.

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