At the interbank foreign exchange, the rupee opened on a weak note at 74.48, then lost further ground and touched 74.55 against the American dollar. The Indian rupee depreciated by 16 paise to 74.55 against the US dollar in opening trade on Tuesday, November 23, 2021 as a muted trend in the domestic equity market and firm American dollar weighed on investor sentiment. At the interbank foreign exchange, the rupee opened on a weak note at 74.48, then lost further ground and touched 74.55 against the American dollar, registering a decline of 16 paise from the last close. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 96.55. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, USD-INR has not been able to cross 74.55.

Source: The Hindu November 23, 2021 07:48 UTC