Rupee strengthens as domestic equities recover ahead of Union Budget 2022

31 Jan 2022 , 12:23 PM

In today’s early morning trade rupee gained 15 paise at 74.92 against the US Dollar as domestic equities crawl to a steady recovery. Domestic equity markets opened higher hinting at refined investor sentiments. However, the rupee’s strength remained constrained amidst elevated crude oil prices and strong greenback.

At the interbank exchange, the rupee opened at 74.97/$ then further rose to 74.92/$, gaining an overall 15 paise in early morning trade against its previous closing of 75.07/$.

Ahead of Union Budget 2022 on Tuesday, Rupee will trade between the range of 74.80 to 75.40 against the American Dollar.

Domestic equities are looking forward to the Union Budget announcement giving a positive outlook to today’s trade.

On the International market front, the US Dollar index was last seen at 97.14 points, shedding 0.13% since its previous closing. Brent Crude was last seen at $89.54 per barrel, up by 1.03 or 1.15% since its previous closing.

On the Domestic equity front, BSE Sensex was trading 942 points higher at 58,142 points since its previous closing of 57,200 points. While NSE’s Nifty gained 266 points at 17,368 points, against 17,101 points in its previous closing.