Rupee Pares Initial Losses, Settles Higher To 74.61 Against Dollar

The rupee reversed early losses and gained 27 paise against the US dollar on Tuesday, July 20, to settle higher at 74.61 (provisional) tracking weaker American currency. At the interbank foreign exchange market, the local unit witnessed heavy volatility today as it opened weaker at 74.93 against the dollar and witnessed an intra day high of 74.55. It witnessed a low of 74.95 and during the session. In an early trade session, the domestic currency declined six paise to 74.94 against the greenback. The domestic unit closed at 74.61 against the American currency, registering a rise of 27 paise over…