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The Print
a day ago
- Business
- The Print
Rupee ends almost flat against US dollar
At the interbank foreign exchange, the rupee opened at 85.43 against the US dollar and traded in the range of 85.43-85.65 before closing at 85.52, a rise of just one paisa from its previous close. However, a steep fall in the domestic equity markets and a rise in global crude oil prices weighed on sentiments, traders said. Mumbai, Jun 12 (PTI) The rupee rose 1 paisa to close to 85.52 against the US dollar on Thursday due to a weak dollar against major currencies overseas. The local unit had settled at 85.53 on Wednesday. 'The dollar fell on Thursday on further signs that the US president may adopt a softer stance in tariff negotiations and heightened expectations of FED Reserve rate cuts after a softer CPI inflation data yesterday (Wednesday). Trump also said he is willing to extend the July 9 deadline for completing trade talks with countries before higher US tariffs are imposed,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.43 per cent at 99.20. A London-bound Air India plane carrying 242 passengers and crew crashed in a residential area minutes after taking off from the Ahmedabad airport on Thursday afternoon. Many people were feared killed. In the domestic equity market, the 30-share BSE Sensex tumbled 823.16 points to settle at 81,691.98, while Nifty fell 253.20 points to 24,888.20. Brent crude, the global oil benchmark, dropped 0.09 per cent to USD 66.81 per barrel in futures trade. Foreign institutional investors (FIIs) offloaded equities worth Rs 3,831.42 crore on a net basis on Thursday, according to exchange data. PTI BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
3 days ago
- Business
- Economic Times
Rupee rises 7 paise to 85.46 against US dollar in early trade
Rupee rose 7 paise to 85.46 against the US dollar in early trade on Thursday, supported by a weak American currency, a drop in global crude oil prices, and a positive opening in the domestic equity markets. ADVERTISEMENT However, FII outflows capped further gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.43 against the greenback before falling to 85.46, up 7 paise from its previous close. The rupee had settled at 85.53 against the US dollar on Wednesday. "The rupee, which gained on Wednesday, opened higher as dollar index fell yesterday and was lower on Thursday, though Asian currencies were still range-bound. The range for the rupee is 85.25-75 as dips to the dollar get bought," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "Importers may buy for short-term hedging near 85.25 while exporters need to wait for proper levels above 85.75 to hedge," he said. Investors will watch out for CPI data later on Thursday, which could determine the range for the local unit, forex traders said. ADVERTISEMENT Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, dipped 0.07 per cent to 99.02. "The dollar slided on Thursday on further signs that the US president may adopt a softer stance in tariff negotiations and heightened expectations of FED Reserve rate cuts after a softer CPI inflation data yesterday (Wednesday). Trump also said he is willing to extend the July 9 deadline for completing trade talks with countries before higher US tariffs are imposed," he said. ADVERTISEMENT In the domestic equity market, the 30-share BSE Sensex rose 108.02 points to 82,623.16 in early trade, while Nifty was up 38.7 points to 25,180.10. Brent crude, the global oil benchmark, dropped 0.09 per cent to USD 66.81 per barrel in the futures trade. Foreign institutional investors (FIIs) offloaded equities worth Rs 446.31 crore on a net basis on Wednesday, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel)
