WEEKLY CURRENCY MARKET 1st - 4th Dec 2020

On a weekly basis, the rupee appreciated 24 paise or 0.32 per cent at 73.79 against US dollar and touched low at 73.42 and high at 73.96. Domestic Currency market closed on Monday. Rupee opened at 73.95 and closed 41 paise higher at 73.63 against us Dollar on Tuesday. The increase in rupee mainly on account of as positive domestic equities and sustained foreign fund inflows strengthened investor sentiment. Besides, positive developments on COVID-19 vaccine front, improved domestic macro-economic data and weakness of the American currency against key rivals also supported the rupee. On Wednesday, Rupee opened at 73.44 and closed 15 paise lower at 73.80 against us Dollar. On Thursday, Indian rupee depreciated 10 paise despite weakness in dollar and rise in risk appetite in the global markets as investors remained cautious ahead of the RBI monetary policy meeting outcome. On Friday, Rupee opened higher at 73.81 and closed 12 paise higher at 73.79 against us Dollar as the Reserve Bank of India maintained status quo on the benchmark interest rate for the third time in a row.