Currency Buzz: INR Rebounds As Oil Prices Retreat

9 Mar 2022 , 05:23 PM

The Indian rupee appreciated 44 paise to 76.56 (provisional) against the US dollar on Wednesday following a retreat in crude oil prices and rebound in domestic equities. At the interbank forex market, the local unit opened at 76.90 against the greenback and witnessed an intra-day high of 76.55 and a low of 76.92. The rupee quoted 76.56 at 1530 hrs, registering a rise of 44 paise over its previous close. On Tuesday, the rupee fell 7 paise to close at a lifetime low of 77 against the US dollar, weighed by surging crude oil prices. Meanwhile, the dollar index, which measures the greenbacks strength against a basket of six currencies, fell 0.40 per cent to 98.66.

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