USDINR Settles Below 82; Dollar Marches Ahead

Published on Jul 24, 2023 17:44

USDINR futures on the NSE eased all through the day and settled below 82 mark on Monday. The dollar index that measures the greenback against a basket of currencies is trading at 100.86, after briefly breaching 101 mark earlier in the day, snapping a two week losing streak and off its recent 15-month lows. Firmness in US benchmark 10 year treasury yields above 3.8% awaiting clarity ahead of FOMC meeting this week are also dragging the greenback higher. In the spot market, rupee gained 15 paise to close at 81.83 (provisional) against the US dollar on Monday, as a sharp jump in India`s forex reserves boosted investor sentiments. At the interbank foreign exchange market, the local unit opened at 82 against the US dollar and moved in a range of 81.82 to 82.04 in day trade. The rupee closed 15 paise higher at 81.83 (provisional) against the previous close of 81.98 on Friday.