Rupee Settles On Flat Note To 72.69 Against Dollar Amid Muted Domestic Equities

Rupee Vs Dollar Today: The rupee settled on a flat note against the US dollar on Tuesday, February 16, at 72.69 (provisional) following a muted trend in the domestic equity market. At the interbank foreign exchange market, the domestic unit opened at 72.64 against the dollar and registered an intra-day high of 72.63. It witnessed a low of 72.85. In an early trade session, the local unit rose four paise to 72.64 against the greenback. The domestic unit finally ended at 72.69 against the American currency, registering a fall of just one paisa over its previous close. On Monday, February 15, the rupee closed at 72.68 against the dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.29 per cent to 90.21. "The rupee ended flat against the US currency on Tuesday, as importers' greenback purchases offset the impact of a weak dollar index," said Sriram Iyer, Senior Research Analyst at Reliance Securities. ''The dollar struggled at a three-week low as growing optimism about the outlook of the global economy pushed investors towards riskier asset classes'', he added.

On the domestic equity market front, the BSE Sensex ended 49.96 points or 0.10 per cent lower at 52,104.17, while the broader NSE Nifty declined 1.25 points or 0.01 per cent to 15,313.45. 

''The benchmark equity indices snapped a three day winning streak on February 16 and closed flat. Nifty opened up but soon ran into selling pressure. After making lower tops lower bottoms till about 1400 Hrs, it stabilized and recovered some of the lost ground. At close, the Nifty was down 1.20 points or 0.01 per cent at 15,313.50,'' said Deepak Jasani, Head of Retail Research, HDFC Securities.

''Nifty formed a near doji like pattern after a rise suggesting some uncertainty among bulls/bears. Advance decline ratio continues to be negative suggesting widespread profit taking. Sector specific moves continue in the markets with Metals being in the limelight on Feb 16. 15242 on the Nifty is now a crucial level below which the correction could accelerate. On upmoves, 15432 could offer some resistance,'' he added.

According to exchange data, the foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,234.15 crore on February 15. Brent crude futures, the global oil benchmark, fell 0.09 per cent to $ 63.24 per barrel.

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