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Currency Buzz: INR Rebounds Amid Optimistic Local Equities
(01-Dec-2021, 17:04 Hours IST)
The Indian rupee gained 22 paise to close at 74.91 (provisional) against the US dollar on Wednesday as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiment. At the interbank forex market, the domestic unit opened at 74.96 against the greenback and witnessed an intra-day high of 74.79 and a low of 75.02 during the day's trade. It finally ended at 74.91 a dollar. On Tuesday, the rupee dropped by 6 paise to 75.13 against the US dollar amid concerns over the fresh impact of the new COVID variant on the economy. The rupee has been under pressure over the last few trading sessions, as the detection of a new coronavirus variant re-ignited growth concerns and hurt risk appetite. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.03 per cent to 95.96.

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