Rupee falls 48 paise to close at 81. 26 against US dollar PTI Updated: November 14th, 2022, 16:35 IST in Business 0 Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin Mumbai: The rupee depreciated by 48 paise to close at 81. 26 (provisional) against the US dollar Monday, tracking the recovery in the American currency and a muted trend in domestic equities.
Forex traders said rising crude oil prices also weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened on a strong note at 80. 53, but pared gains and finally settled at 81.
26 against the American currency, registering a fall of 48 paise over its last close. On Friday, the rupee appreciated by 62 paise to close at 80. 78 against the dollar.
“Indian Rupee depreciated on recovery in US Dollar and weak domestic markets. However, Rupee opened higher on upbeat macroeconomic data,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas. India’s industrial production expanded by 3.
1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released Friday. “Overall weakness in the Dollar amid rising expectations of the not-so-aggressive Federal Reserve may also support the Rupee at lower levels. Sustained FII inflows may also support Rupee.
However, higher crude oil prices may cap sharp upside,” Choudhary added. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0. 59 per cent to 106.
91. Global oil benchmark Brent crude futures declined 0. 63 per cent to USD 95.
93 per barrel. On the domestic equity market front, the 30-share BSE Sensex fell 170. 89 points or 0.
28 per cent to end at 61,624. 15, while the broader NSE Nifty declined 20. 55 points or 0.
11 per cent to 18,329. 15. Foreign Institutional Investors (FIIs) were net buyers in capital markets as they purchased shares worth Rs 3,958.
23 crore Friday, according to exchange data. On the domestic macroeconomic front, the wholesale price-based inflation declined to a 19-month low of 8. 39 per cent in October, on easing prices of fuel and manufactured items.
Meanwhile, India’s foreign exchange reserves dropped by USD 1. 087 billion to USD 529. 994 billion in the week ended November 4 on a sharp decline in gold reserves, the Reserve Bank said Friday.
Tags: Rupee US Dollar Share Tweet Send Share Suggest A Correction Enter your email to get our daily news in your inbox. Leave this field empty if you’re human: Related Posts Markets settle lower in volatile trade November 14, 2022 Rupee falls 15 paise to 80. 93 against US dollar November 14, 2022 Markets climb in early trade, turn volatile later November 14, 2022 Markets to track inflation data, global factors this week: Analysts November 14, 2022 India likely to remain fastest growing major economy: RBI Governor Das November 13, 2022 Britain sliding towards recession November 12, 2022 Leave a Reply Cancel reply Your email address will not be published.
Required fields are marked * Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. .
From: orissapost
URL: https://www.orissapost.com/rupee-falls-48-paise-to-close-at-81-26-against-us-dollar/
