Rupee ends down at 74.51 against dollar; gold, silver trade firm on global cues

Rupee ends down at 74.51 against dollar; gold, silver trade firm on global cues

At the interbank foreign exchange market, rupee opened at 74.55 and witnessed a high of 74.47 and a low of 74.58 against the dollar.

Mumbai: The rupee ended 12 paise down at 74.51 against the U.S. dollar on Thursday. There has been low volatility in the USD-INR pair due to the Thanksgiving holiday in Washington. 

Weak month-end dollar demand and steady foreign fund outflows from equity and debt markets weighed on rupee.

At the interbank foreign exchange market, rupee opened at 74.55 and witnessed a high of 74.47 and a low of 74.58 against the dollar.

Also, weak crude oil prices capped depreciation bias. Brent crude futures, the global oil benchmark, declined by 0.36 per cent to 81.95 dollar per barrel.

The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, ended 0.20 per cent low at 96.68.

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The yield on 10-year benchmark federal paper has gone up by 6.369 per cent as compared with 6.367 per cent at close in the previous trading session.

Meanwhile, gold and silver futures on the Multi Commodity Exchange (MCX) climbed on Thursday, taking cues from the international spot prices. Gold futures due for December 3, 2021 delivery, were up 0.25 per cent at Rs. 47,558, against the previous close of Rs. 47,438. 

December 3, 2021, silver futures at the exchange were trading 0.68 per cent higher at Rs. 63,062 compared to previous close of Rs. 62,635.

As for spot price, 24 carats gold in domestics market was at Rs. 47,687 per 10 grams on Thursday, and silver at Rs. 63,308 per kilogram. The spot rates of the precious metals exclude GST (goods and services tax). 

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In the commodities market, Brent crude futures, the global oil benchmark, declined by 0.38 per cent to 81.94 dollar per barrel.

first published:Nov. 25, 2021, 6:09 p.m.

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