INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 73.85 against the dollarThe rupee rose for the second consecutive day gaining 10 paise against
the US dollar on Tuesday, May 4, to settle at 73.85 amid dollar selling by traders
domestic unit opened at 73.83 and registered an intra-day high of 73.76
It witnessed a low of 73.97
In an early trade session, the local unit gained 13 paise to 73.82 against the greenback
against a basket of six currencies, gained 0.42 per cent to 91.33.''The USD/INR pair started the day slightly higher at 73.87, up 17 paisa
against USD from Monday's close
The currency pair fell sharply from a high of 75.32 made on 22-4-2021 and fresh low 73.87 today, despite regular covid cases crossing the
Limited.''An increase in the rupee exchange rate above the 74.00 level will be unsustainable in the current situation, and a swift recovery
to the 74.50 plus level is expected in the coming sessions,'' added Mr Purohit.''There is an excess of $ supply causing the disruption in
cash premiums going as high as 16%
So exporters and others sold dollar and from a high of 74.32 Rupee rose to 73.85
Today if the same scenario prevails then we may again see the sell-off
domestic equity market front, the BSE Sensex ended 465.01 points or 0.95 per cent lower at 48,253.51, while the broader NSE Nifty
concerns over FPI selling in the recent past and further action expected to combat the Covid situation....Volumes on the NSE were higher
than recent averages suggesting that the buying by domestic institutions was subdued while Retail and HNI started to take profits as is
Deepak Jasani, Head of Retail Research, HDFC Securities.''The market is not stabilizing at any specific level, which is an indication of
