Rupee Depreciates To 74.39 Against Dollar Tracking Muted Domestic Equities

Rupee Vs Dollar Rate: At the interbank foreign exchange market, the local unit opened lower at 74.38 against the dollar and touched an intra-day high of 74.38 during the session

The rupee depreciated 15 paise against the US dollar on Friday, August 20, to settle at 74.39 (provisional), tracking a muted trend in the domestic equities and a stronger American currency in the overseas market. At the interbank foreign exchange market, the local unit opened lower at 74.38 against the dollar and touched an intra-day high of 74.38 during the session. It witnessed a low of 74.47. In an early trade session, the domestic unit slumped 16 paise to 74.40 against the greenback. On Wednesday, August 18, the domestic unit settled at 74.24 against the American currency. On Thursday, the forex market was shut on account of Muharram. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 93.65. Mr Amit Pabari, MD, CR Forex: