During the session, the local unit witnessed an intra-day high of 75.69 and a low of 75.90.(Bloomberg)
During the session, the local unit witnessed an intra-day high of 75.69 and a low of 75.90.(Bloomberg)

Rupee settles 5 paise lower at 75.76 against US dollar

At the interbank forex market, the rupee opened weak at 75.90, but pared most initial losses and finally settled at 75.76 against the US dollar, down 5 paise over its last close.
Mumbai | By Press Trust of India | Posted by Harshita Singh
PUBLISHED ON MAY 28, 2020 03:06 PM IST

The rupee on Thursday settled 5 paise down at 75.76 against the US dollar amid escalating tension between the US and China.

Forex traders said the rupee traded in a narrow range as positive domestic equities and improving risk appetite were offset by a flare-up in US-China tensions.

At the interbank forex market, the rupee opened weak at 75.90, but pared most initial losses and finally settled at 75.76 against the US dollar, down 5 paise over its last close.

It had settled at 75.71 against the US dollar on Wednesday.

During the session, the local unit witnessed an intra-day high of 75.69 and a low of 75.90.

On the domestic equity market front, the 30-share benchmark Sensex was quoting 437.12 points higher at 32,042.34 and the broader Nifty rose 136.30 points to 9,451.25.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.02 per cent to 99.07.

Meanwhile, the US and China clashed over Hong Kong at the UN Security Council, with Washington calling a meeting over the controversial national security law introduced by Beijing to tighten its control on the former British colony.

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