MUMBAI: The rupee appreciated 8 paise to 79.61 against the US dollar in opening trade on Friday, tracking the dollar's decline versus its major peers and foreign fund inflows. Similarly, the broader NSE Nifty rose 104.65 points or 0.59 per cent to 17,903.40.įoreign institutional investors (FIIs) were net buyers in the capital markets, as they purchased shares worth Rs 2,913.09 crore on Thursday, according to provisional data. In the domestic equity market, the 30-share BSE Sensex was trading 291.14 points or 0.49 per cent up at 59,979.36. The rupee will stay in a range of 79.40 to 79.80 for the day, Bhansali added.īrent crude futures, the global oil benchmark, advanced 0.22 per cent to USD 89.35 per barrel. Asian currencies gain against the dollar," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. Brent oil remains below USD 90 per barrel. "ECB raised interest rates by 75 bps, taking the euro higher and the dollar index lower at 109.08 levels. Meanwhile, the European Central Bank raised its key interest rates by an unprecedented 75 basis points. The US Federal Reserve Chair, Jerome Powell on Thursday said he is "strongly committed" to fighting inflation. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.72 per cent to 108.92, as markets digested yet more hawkish Fed. On Thursday, The rupee rose by 26 paise to close at a week's high of 79.69 against the American currency. equity futures and Asian peers.At the interbank foreign exchange, the domestic unit opened at 79.66 against the dollar, then touched 79.61 in initial deals, registering a gain of 8 paise over its previous close. Indian shares advanced, tracking an uptick in U.S. Dollar-rupee futures contracts inched lower and open interest on them was slightly lower. Meanwhile, rupee forward premiums dropped, with the 1-year implied yield slipping to 2.88%, weighed down by a hawkish Federal Reserve and lower oil prices.Įuro-rupee and other rupee crosses futures traded on the NSE rose. The European Central Bank on Thursday raised its key interest rate by 75 basis points and said it expected to continue raising rates to dampen demand, prioritising the fight against inflation. The euro was the main reason for the pullback on the dollar index. Lower oil prices and a weaker dollar "are good enough" for traders to add on short rupee speculative positions, said Anindya Banerjee, head research - fx and interest rates at Kotak Securities.įoreign equity inflows are holding up well and that is another piece of positive news for the rupee, Banerjee said.įoreign investors have purchased about $350 million worth of Indian equities so far this month after $6.5 billion worth buying in August, according to NSDL data. The gauge had climbed to near 110.80 earlier this week, the highest in 20 years.īrent crude futures were hovering near $89.50, shedding about 18% since the beginning of August. The dollar index declined 0.8% to 108.84 and was poised for its worst session in a month. USD to INR FORECAST for tomorrow, this week and month. More details on current USD to INR below. The local currency had reached 79.57 earlier in the session.įor the week, the rupee has gained about 0.2% and is headed for its best performance in seven weeks. Current USD to INR exchange rate equals 79.4470 Rupees per 1 US Dollar. dollar, as of 0502 GMT, up from 79.71 in the previous session. currency on Friday, as the dollar index fell further from a two-decade high scaled earlier this week. MUMBAI - The Indian rupee hit a more than one-week high against the U.S.
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