Currency Buzz: INR Falls Back Amid Firm Crude Prices

20 Jan 2022 , 05:06 PM

The Indian rupee slipped 7 paise to close at 74.51 (provisional) against the US dollar on Thursday, tracking a lacklustre trend in the domestic equity market. Besides, sustained foreign fund outflows and firm crude oil prices also weighed on the local unit. Moreover, investors remained cautious ahead of the US Federal Reserves meeting due next week. At the interbank foreign exchange market, the local currency opened at 74.43 against the greenback and witnessed an intra-day high of 74.29 and a low of 74.53 during the session. The rupee finally settled at 74.51, down 7 paise over its previous close of 74.44. Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading at 95.63.

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