INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 73.06 against the dollarThe rupee rebounded from yesterday's lows and inched higher by two paise
against the US dollar on Thursday, September 2, to settle at 73.06 (provisional) amid a sustained rally in domestic equities
At the interbank foreign exchange market, the domestic unit opened at 73.04 against the dollar and registered an intra-day high of 72.96
It witnessed a low of 73.13
In an early trade session, the local unit inched higher by six paise to 73.02 against the greenback.The rupee closed at 73.06 against the
American currency, registering a gain of two paise against its previous close
On Wednesday, September 1 the domestic currency snapped its four-day winning streak and settled lower to 73.08 against the
dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.06 per cent to
92.39. Mr Amit Pabari, MD, CR Forex:''Globally, the dollar index erased its gains to trade near 92.50 levels after the ADP employment
report showed only fewer jobs were added in the US private sector than expected in the month of August
However, ISM manufacturing data pointed to some recovery after contracting last month
payrolls report Friday may offer some clues on their economic outlook
If more numbers are added we may see reversal in dollar and some guide on timing of tapering.So far, rupee had been supported majorly on
account of corporate and IPO inflows and the absenteeism from intervention in the spot market by the BIG bull
However, with rupee not being able to cap gains beyond 72.90 levels and moving back towards 73.15 levels, suggest that RBI could be back in
Going ahead, it will be watchful whether RBI continues the loosening grip or hovers back to pack the dollars.''On the domestic equity market
front, the BSE Sensex ended 514.33 points or 0.90 per cent higher at a lifetime high of 57,852.54, while the broader NSE Nifty climbed
156.90 points or 0.92 per cent to close at record 17,233.15.According to exchange data, the foreign institutional investors were net buyers
in the capital market on September 1 as they purchased shares worth ₹666.66 crore. Brent crude futures, the global oil benchmark, rose
0.32 per cent to $71.82 per barrel.
