In early trading, the Indian rupee decreases 9 paise to 79.71 against the US dollar
The rupee depreciated by 9 paise from the previous close to open at the interbank foreign exchange, which was 79.67 against the US dollar.
admin
As a result of the US dollar's strength in the international market and rising crude oil prices, the rupee lost 9 paisas to begin at 79.71 against the US dollar on Friday.
The rupee depreciated by 9 paise from the previous close to open at the interbank foreign exchange, which was 79.67 against the US dollar.
The rupee lost 37 paise on Thursday to end the day at 79.62 against the US dollar. Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, claims that despite a decline in the dollar index and an increase in Asian currencies, the Indian rupee fell on Thursday due to massive purchases of US dollars by the government, the military, and oil corporations.
"Due to the upcoming week of holidays, demand might continue on Friday. For the day, the range is between 79.40 and 79.80 "However, oil prices are currently hanging around USD 100 per barrel, which is concerning for the rupee and current account deficit, Bhansali said (CAD).
The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, increased 0.11 percent to 105.20.
While this was happening, the benchmark Brent crude price fell by 0.48 percent to US$99.12 per barrel. The 30-share Sensex was down 189.59 points, or 0.32 percent, at 59,143.01 points on the domestic equities market, while the larger NSE Nifty was down 42.75 points, or 0.24 percent, at 17,616.25.
According to exchange data, foreign institutional investors continued to be net purchasers on Thursday, buying shares worth Rs 2,298.08 crore.
