The rupee depreciated by 10 paise to shut at 77.60 (provisional) in opposition to the United States greenback on Thursday, at the same time as oil costs eased and home equities settled on a optimistic word.
At the interbank international alternate market, the rupee consolidated in a slim vary. It opened decrease at 77.61 in opposition to the dollar and eventually settled at 77.60, down 10 paise over its earlier shut.
During the session, the rupee touched an intra-day low of 77.63 and a excessive of 77.54.
On Wednesday, the rupee had recovered from its file low to shut 21 paise larger at 77.50.
The greenback index, which gauges the dollar’s energy in opposition to a basket of six currencies, was buying and selling 0.25% decrease at 102.24.
Global oil benchmark Brent crude futures fell 2.27% to $113.65 per barrel.
“Rupee continued to trade in a narrow range and volatility remained low despite marginal gains in domestic equities. Dollar rose against its major crosses after manufacturing PMI came in better-than-estimate,” mentioned Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Somaiya additional mentioned “we expect the USD-INR to trade sideways and quote in the range of 77.20 and 77.80.”
On the home fairness market entrance, the 30-share BSE Sensex ended 436.94 factors or 0.79% larger at 55,818.11, whereas the broader NSE Nifty superior 105.25 factors or 0.64% to 16,628.00.
Foreign institutional traders have been internet sellers within the capital market on Wednesday as they offloaded shares value ₹1,930.16 crore, as per inventory alternate knowledge.
Source: www.thehindu.com
