Rupee rises 6 paise to end at 72.96 against US dollar
PTI
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× The rupee gained 6 paise to settle at 72.96 against the US dollar on Tuesday tracking weak American currency and heavy buying in domestic equities. Analysts said the rupee is trading in a narrow range as traders remained cautious ahead of the RBI monetary policy scheduled on Friday. At the interbank forex market, the rupee opened on a flat note at 73.02, and gained ground to touch an intra-day high of 72.92. The local unit also touched a low of 73.05 during the day. It finally finished at 72.96, higher by 6 paise over its last close. On Monday, the rupee had finished at 73.02 against the American currency.
Silver prices drop nearly Rs 3,000 a kg on long unwinding, increased margins and weak global cues
The spot gold/silver ratio currently stands at 66.73 to 1 indicating that gold has outperformed silver.
Source: Reuters
Silver prices tanked to Rs 70,790 per kg on February 2 as participants trimmed their positions as seen by the open interest. The precious metal had gained 9.3 percent on February 1 to touch $30.35/oz, the highest level since 2013 on the COMEX.
The white metal prices rallied 19 percent since January 27 largely on the back of buying frenzy in retail driven by social media recommendations to lap up silver mining stocks and ETFs. However, there is no fundamental development supporting the rally as gold has been rangebound and industrial metals struggling for direction.
Rupee rises 6 paise to end at 72.96 against US dollar
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Last Updated: Feb 02, 2021, 05:49 PM IST
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Analysts said the rupee is trading in a narrow range as traders remained cautious ahead of the Reserve Bank of India (RBI) monetary policy scheduled on Friday.
Agencies
It finally finished at 72.96, higher by 6 paise over its last close. On Monday, the rupee had finished at 73.02 against the American currency.
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he rupee gained 6 paise to settle at 72.96 against the US dollar on Tuesday tracking weak American currency and heavy buying in domestic equities.
Analysts said the rupee is trading in a narrow range as traders remained cautious ahead of the Reserve Bank of India (RBI) monetary policy scheduled on Friday.
Rupee Vs Dollar: Rupeefinished at 72.96, higher by six paise over its last close
Rupee Vs Dollar: The rupee gained marginally six paise against the US dollar on Tuesday, February 2, to settle at 72.96 (provisional), tracking weak American currency and higher buying in domestic equities. At the interbank foreign exchange market, the domestic unit opened on a flat note at 73.02, and gained ground to achieve an intra-day high of 72.92. The local unit registered a low of 73.05 during the day. In an early trade session, it rose one paisa to 73.01 against the greenback. The rupee finished at 72.96, higher by six paise over its last close. On Monday, February 1, the local unit had finished at 73.02 against the American currency.