The rupee drops 13 to 74.19 against the US dollar in early trading


MUMBAI: Indian rupee resisted 13 paise to 74.19 against US dollar at the opening of the trade on Wednesday, following the trend of home-based businesses.
For the interbank foreign exchange, the rupee opened at 74.18 against the dollar, then surpassed 74.19, registering a fall of 13 paise at the end.
On Tuesday, the rupee settled at 74.06 against the US dollar.
Meanwhile, the dollar index, which measures the strength of the greenback against the six-dollar basket, was trading 0.06% at 93.71.
In the marketplace in the marketplace, BSE Sensex was trading at 307.88 points or 0.52% down from 59,359.72, while the broad NSE Nifty declined 83.10 or 0.47% points to 17,665.50.
Currently, foreign exchange traders were trading in the stock market on Tuesday, when they released stocks worth 1957.70 crore rupees, according to the exchange.
The global oil brand Brent futures futures fell 1.32% to $ 78.05 per barrel.
“As American yields rise, inflation rises as do oil prices,” he said Anil Kumar Bhansali, Head of Iron Ore, Finrex Wealth Counselors.
According to Bansali, the rupee is expected to remain between 73.90 to 74.40. “The end of the three-phase sale from IT companies and MSCI lending should come as the RBI is enduring tackling the financial crisis,” he said.



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