Rupee slips 8 paise against dollar to 74.99 on Omicron variant worries

The rupee on Thursday slipped 8 paise to shut at 74.99 (provisional) against the US dollar as investor issues grew over the affect of the brand new coronavirus variant on the economic system.

At the interbank overseas trade market, the native foreign money opened at 75.06 and witnessed an intra-day excessive of 74.90 and a low of 75.07 against the US dollar.

The native unit lastly settled at 74.99, down 8 paise over its earlier shut of 74.91.

The dollar index, which gauges the buck’s power against a basket of six currencies, was buying and selling 0.01 per cent up at 96.03.

Meanwhile, Brent crude futures, the worldwide oil benchmark, superior 2.99 per cent to USD 70.45 per barrel.

On the home fairness market entrance, the BSE Sensex ended 776.50 factors or 1.35 per cent greater at 58,461.29, whereas the broader NSE Nifty jumped 234.75 factors or 1.37 per cent to 17,401.65.

Foreign institutional buyers have been web sellers within the capital market on Wednesday, as they offloaded shares price Rs 2,765.84 crore, as per trade knowledge.

On the macro-economic entrance, India’s merchandise exports rose 26.49 per cent year-on-year to USD 29.88 billion in November on higher efficiency by key sectors, whereas the commerce deficit hit a report excessive of USD 23.27 billion as imports of crude oil and gold spiked.

(Only the headline and movie of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)

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