At the interbank foreign exchange, the rupee opened at 75.71, registering a rise of 20 paise over its previous close
Domestic stocks advanced in early trade which supported the rupee. The key indices Sensex and Nifty, however, closed marginally down due to sell-off in financial counters
The rupee did not react much to the measures announced since this was more towards a short-term liquidity measure which the markets had expected from the RBI.
The developments comes as rupee recovered from record low levels to settle 6 paise higher at 76.28 against the US dollar
After giving up over 7% since the start of the year, the rupee fell to a record low of 76.42 to the dollar on Wednesday
The rupee closed at 76.20 a dollar, down from its previous close of 75.20 a dollar
Meanwhile, all central banks including RBI are trying to reduce the risk and address the liquidity crunch. However, the increasing number of coronavirus cases in India will keep the rupee on an edge.
The new coronavirus outbreak can now be described as a pandemic, the head of the World Health Organization announced Wednesday.
Index movement and the weighting are calculated on free-float market capitalisation of individual index stocks. Free float is the portion of the shares owned by non-promoters
Analysts expect the renewed geopolitical worries to remain for a couple of days, lending support to the crude oil price and taking a toll on emerging market currencies, including the rupee
Silver prices also gained by Rs 21 to Rs 47,781 per kg, compared to Rs 47,760 per kg in the previous trade
The rupee had closed the 2018 year at 69.77 to the US dollar
The domestic unit on Tuesday settled 13 paise higher at 71.71
The rupee on Monday slipped 19 paise to a near one-month low of 71.47 as fresh concerns over US-China trade deal and Hong Kong unrest kept forex market participants edgy.
After falling nearly 9 per cent in 2018, the Indian currency has shed another 4 per cent this year to touch a 2019 trough of 72.40 per dollar on Sept 3
The domestic unit on Wednesday snapped its three-session winning streak to end at 70.97, down 28 paise.
The domestic currency on Tuesday dived 31 paise to end at a nearly one-month low of 71.54 due to heavy dollar buying amid fresh concerns over the progress of China-US trade talks.
The domestic unit gave up most of its losses to close down by 3 paise at 71.80 on Thursday.
In the calendar year 2019, Infosys has outperformed the market by surging 22 per cent as compared to a 4 per cent rise in the Sensex and 12 per cent gain in the S&P BSE Information Technology index.
The domestic currency on Thursday crashed to an over eight-month low of 71.81, dropping 26 paise as tumbling equities and incessant foreign fund outflows weighed on sentiment.