The Indian currency opened at 72.97 per dollar on Friday compared to the previous close of 73.10, among the buyings seen in the domestic currency market.
On May 20, the rupee ended up with a slight rise to 73.10 per dollar when the Wednesday closure of 73.16 ended.
Sensex was up 580.30 points or 1.17% at 50145.16, while Nifty was up 164.90 points or 1.11% on 15070.90.
The positive trend in domestic currency is influenced by the rally in global markets and the weakness of the dollar compared to large currencies, which should slow the decline. It could go back to 73.00 levels, said ICICI Direct.
The May dollar contract on the NSE was Rs 73.17 in the final schedule. Open interest rates dropped by about 2.8% in the May series, he added.
The dollar was raised near major milestones on Friday, and was geared towards weekly losses, as traders’ initial concern for taper talk in the Federal Reserve minutes subsided – with real tapering appearing far-fetched – while the epidemic recovery increased some currencies.
Gold was downgraded on Friday, as hopes for an immediate economic recovery raised the risk of a dangerous asset, although weaker currency and rising inflationary pressures reduced losses and kept bullion on track for a third straight weekly increase.
Oil prices rose on Friday, breathing heavily after three days of losses as investors prepare for the return of Iran’s crude assets after officials say Iran and the world power have advanced negotiations to renew the 2015 nuclear deal.
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