The Indian rupee opened flat at 73.79 per dollar on Monday against Friday’s close of 73.78, amid buying seen in the domestic equity market.
On December 4, the rupee ended 15 paise higher at 73.78 per dollar versus Thursday’s close of 73.93.
At 10:50 IST, BSE Sensex was up 131.18 points or 0.29% at 45210.73, and the Nifty was up 40.10 points or 0.39% at 13299.15.
“A combination of a weak dollar index, optimism on the vaccine front, renewed round of fiscal stimulus talks in the United States and robust inflows give the rupee a slightly appreciating bias in the near term,” said Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.
“However, 73.20 and eventually 73 will be strong hurdles for the rupee to breach given RBI’s intervention is likely to continue in the coming sessions. We are expecting the RBI to mop up dollars in the spot market and simultaneously intervene in forwards to sterilize the liquidity impact,” she added.
Oil prices fell on Monday as a continued surge in coronavirus globally forced a series of renewed lockdowns, including strict new measures in Southern California.
The dollar-rupee December contract on the NSE was at 73.90 in the last session. The open interest remained almost unchanged for the December series contract, said ICICI Direct.BSE Sensexdomestic equity marketICICI DirectIndian rupeeniftyOil PricesRBI