The rupee touched a excessive of 81.99 and a low of 82.14 towards the greenback on March 9.
| Photo Credit: SUDERSHAN V
The rupee pared its preliminary losses to settle 4 paise greater at 82.02 (provisional) towards the U.S. greenback on Friday, monitoring the weak spot of the American forex within the abroad market.
At the interbank international trade market, the native unit opened at 82.12 towards the American forex and eventually closed at 82.02 (provisional) towards the dollar, registering a achieve of 4 paise over its earlier shut of 82.06.
During the session, the rupee touched a excessive of 81.99 and a low of 82.14 towards the greenback.
The greenback index, which gauges the dollar’s power towards a basket of six currencies, fell 0.08 per cent to 105.22.
Global oil benchmark Brent crude futures declined 0.59 per cent to $81.11 per barrel.
“The Indian rupee depreciated marginally by 0.04 per cent on Friday amid weak domestic markets. However, the weak Dollar cushioned the downside,” mentioned Anuj Choudhary – Research Analyst at Share Khan by BNP Paribas.
The greenback slipped from the three-month excessive on weak U.S. markets and disappointing weekly jobless claims information, which rose to 2,11,000 from 1,90,000 within the earlier week.
“We expect the rupee to trade with a negative bias on risk aversion in global markets and selling pressure from FIIs. However, weak greenback, declining US Treasury yields and a fall in crude oil prices may cushion the downside,” Mr. Choudhary mentioned.
Traders could stay cautious forward of non-farm payroll, common hourly earnings and unemployment price information from the U.S. Traders may additionally be careful for India’s industrial manufacturing information, which is more likely to be higher than the earlier month, Mr. Choudhary mentioned.
On the home fairness market entrance, the 30-share BSE Sensex declined 671.15 factors or 1.12 per cent to finish at 59,135.13, whereas the broader NSE Nifty fell 176.70 factors or 1 per cent to 17,412.90.
Foreign Institutional Investors (FIIs) have been web sellers within the capital markets on Thursday as they offloaded shares value ₹561.78 crore, in line with trade information.
Source: www.thehindu.com
