Rupee opens 15 paise up at 73.75 against dollar

The rupee on Friday opened 15 paise higher at 73.75 against the US dollar tracking gains in the domestic equity market.

The benchmark equity index BSE Sensex kicked off the day on a strong note and surged nearly 500 points in early trade as investor sentiments improved amid positive leads from Asian markets and overnight gains on the Wall Street.

The local currency on Thursday came under pressure and fell sharply by 30 paise against the greenback following the plunge in domestic equities and strength in the dollar against its major crosses.


FIIs continued to pull out funds from the domestic equities and that too weighed on the overall market sentiment. “In the next couple of session market participants need to be cautious as further strength in the dollar could keep the rupee weighed down,” said brokerage Motilal Oswal Financial Services.

For today, it expects USDINR (Spot) to quote in the range of 73.40 and 74.20 against the US dollar.

Today, market participants will be keeping an eye on the durable goods number that will be released from the US. There are hopes that the number could come in weaker than previous month’s number and could keep gains capped for the dollar.