Rupee ends lower by 5 paise at 74.74 against U.S. dollar

8 Feb 2022 , 06:51 PM

The Indian rupee closed lower against the U.S. dollar tracking the strength of the American currency in the overseas market and elevated crude oil prices. The rupee fell by 5 paise to close at 74.74 (provisional) against US Dollar.

At the interbank foreign exchange, the rupee opened at 74.65 against the American dollar, and later witnessed an intra-day high of 74.57 and a low of 74.80 against the US Dollar.

The local unit on February 4 had settled at 74.69 against the greenback.

The Reserve Bank of India (RBI) has announced that there will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on Monday (February 07, 2022). This is due to a public holiday declared by the Maharashtra government today under Section 25 of the Negotiable Instruments Act, 1881.

The central bank said that settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., February 8, 2022. The MPC meeting outcome would be announced on February 10, 2022.

On the domestic front, the S&P BSE Sensex added 187.39 points or 0.33% to 57,808.58. The Nifty 50 index gained 53.15 points or 0.31% to 17,266.75.