"indian-rupee"

At the interbank forex market, the local unit opened at 73.34 against the US dollar, then inched higher to 73.33, reflecting a rise of 18 paise over its last close.

On April 27, 2021, the Indian rupee closed around 74.66 against the US dollar, or about 3 per cent lower than levels in mid-March.

The agency cited that low prices may be unfavourable for domestic producers, it will benefit gas consumers.

At the interbank forex market, the domestic unit opened at 72.85 against the US dollar, registering a decline of 34 paise over its previous close.

The financial year 2020-21 has been a roller-coaster ride for the rupee due to Covid-19. The pandemic-induced massive sell-off in the equity market led the rupee breach record low of 76.90.

At the interbank forex market, the local unit opened at 72.43 against the greenback, then lost further ground to touch an intra-day low of 73.51

On the other hand, India's forex reserves continued to rise, indicating, an active Reserve Bank which has kept rupee in a check, to make exports competitive.

The rupee was trading in a narrow range on Friday considering the weak demand for riskier assets on the occasion of Dhanteras.