Currency Buzz: INR Trims Intraday Gains To End Lower

3 Jun 2022 , 05:23 PM

The Indian rupee jumped 13 paise to 77.47 against the US dollar in opening trade on Friday, supported by a fall in the dollar index and positive domestic equities. However, the currency lost momentum as domestic equities wiped intraday gains and ended with tiny losses on Friday. After hitting the days high of 16,793.85 in early trade, the Nifty 50 index moved lower as the session progressed and turned negative in late trade. The market witnessed steep selling in the final hour of the trade. At the interbank foreign exchange, the rupee opened at 77.47 against the American dollar, and registered an intraday high and low of 77.47 and 77.66 respectively so far during the day. The counter ended the day at 77.62 per dollar. On Thursday, the rupee had settled at 77.60 against the US dollar. Powered by Commodity Insights