Brent crude futures, the worldwide oil benchmark, declined 1.07% to $119.87 per barrel
Brent crude futures, the worldwide oil benchmark, declined 1.07% to $119.87 per barrel
The rupee plunged 13 paise to shut at a contemporary all-time low of 78.17 (provisional) towards the United States greenback on Wednesday, as a lacklustre pattern in home equities and protracted overseas fund outflows weighed on investor sentiments.
At the interbank overseas alternate market, the native forex opened at 77.99 and eventually settled at its all-time low of 78.17, down 13 paise over its earlier shut of 78.04.
“Expectation is that U.S. central bank could raise rates by 50 bps. Hawkish comments could continue to keep the dollar supported at lower levels. Major crosses remained under pressure following broad gains in the dollar,” stated Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Mr. Somaiya added, “We expect the USD-INR to trade with sideways and quote in the range of 77.70 and 78.40.” The greenback index, which gauges the buck’s power towards a basket of six currencies, fell 0.64% to 104.84.
Brent crude futures, the worldwide oil benchmark, declined 1.07% to $119.87 per barrel.
On the home fairness market entrance, the BSE Sensex ended 152.18 factors or 0.29% decrease at 52,541.39, whereas the broader NSE Nifty shed 39.95 factors or 0.25% to fifteen,692.15.
Continuing their promoting spree, overseas institutional traders offloaded shares value a web ₹4,502.25 crore on Tuesday, as per inventory alternate information.
Source: www.thehindu.com
