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

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

Mumbai: On Thursday, the rupee declined by 12 paise to close at 74.51 against the US dollar. There has been little volatility in the USD-INR pair due to the Thanksgiving holiday in Washington.

Weak dollar demand at the end of the month and steady outflow of foreign funds from equity and debt markets weighed on the rupee.

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

Besides, weak crude oil prices limited the depreciation bias. Global oil benchmark Brent crude futures fell 0.36 per cent to $81.95 per barrel.

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

Read also: Stock Market Updates: Sensex up 454 points, Nifty closes at 17,536

The yield on the 10-year benchmark federal paper has risen by 6.369 per cent as compared to 6.367 per cent in the previous trading session.

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

On December 3, 2021, silver futures on the exchange were trading with a gain of 0.68 per cent on the rupee. 63,062 as compared to the previous close of Rs. 62,635.

Talking about the spot price, 24 carat gold in the domestic market is priced at Rs. 47,687 per 10 grams on Thursday, and silver at Rs. 63,308 per kg. The spot rates of precious metals do not include GST (Goods and Services Tax).

In the commodity market, global oil benchmark Brent crude futures fell 0.38 per cent to $ 81.94 per barrel.

First published:November 25, 2021, 6:09 pm

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