Rupee Slumps To 73.42 Against Dollar In Line With Asian Peers

Rupee Vs Dollar Rate Today: At the interbank foreign exchange market, the domestic unit opened at 73.12 and dropped to a level of 73.44 during the trading session.

The rupee declined by 32 paise against the US dollar on Tuesday, September 7, to settle at 73.42 (provisional), tracking stronger American currency in the overseas market and a muted trend in domestic equities. At the interbank foreign exchange market, the domestic unit opened at 73.12 and dropped to a level of 73.44 during the trading session. In an early trade session, the local unit slipped five paise to 73.15 against the greenback. The domestic unit closed at 73.42 against the dollar, down 32 paise against its previous close. On Monday, September 6, the domestic currency settled at 73.10 against the greenback. The rupee was in line with other Asian peers, according to forex traders.  Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent higher at 92.23. Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities: ''The spot rupee jumped 30 paise higher at 73.40 against the greenback probably on the back of large corporate demand for the dollar. A strong US Dollar Index is also aiding the weakness in the rupee. However, the upside remains capped thanks to exporter selling and FPI inflows. We expect a range of 73.00 and 73.70 on spot.''