The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated by 12 paise to 83.17 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Friday, tracking a bullish trend in domestic equities, wherein benchmark indices scaled new peaks. Forex traders attributed the rally to Rs 2.11 lakh crore record dividend by the RBI to the government for the fiscal ended March 31. It was more than double the budgeted expectation, helping shore up revenue ahead of a new government taking office. At the interbank foreign exchange market, the local unit opened at 83.26 and gained further ground to trade at 83.17 against the greenback, registering a gain of 12 paise from its previous closing level. The <keyword id="21021209" type="General" weightage="20" keywordseo="forex-market" source="keywords">forex market</keyword> was closed on Thursday on account of 'Buddha Purnima'. On Wednesday, the rupee appreciated by 2 paise to settle at 83.29 against the US dollar. After a trading holiday on Thursday, the <keyword id="20045514" type="General" weightage="20" keywordseo="Indian-rupee" source="keywords">Indian rupee</keyword> was on a strong footing following a big transfer of Rs 2.11 lakh crore in the form of dividend from the Reserve Bank of India (RBI) to the Union government, which would improve not only government finances but also allow leverage to spend more on infrastructure, said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.11, higher by 0.01 per cent. Brent crude futures, the global oil benchmark, advanced 0.05 per cent to USD 81.40 per barrel. "The overall outlook for the rupee appears strongly positive, with the Nifty 50 reaching an all-time high. These factors indicate that India remains a focal point for investors, with potential for the rupee to appreciate. "In the short term, the rupee is expected to approach levels of 83.00 to 83.10, while the medium-term target is projected to range between 82.80 and 82.50," CR Forex Advisors MD Amit Pabari said. On the domestic equity market, both the benchmark indices scaled new peaks. The 30-share BSE Sensex was trading 51.21 points, or 0.07 per cent higher at 75,469.25 points. The broader NSE Nifty breached the 23,000 level in initial trade. Moreover, the market capitalisation of listed companies on the NSE surpassed USD 5 trillion (Rs 416.57 trillion) on Thursday on a day when the Nifty 50 index touched an all-time high of 22,993.60. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 4,670.95 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/poco-f6-with-snapdraon-8s-gen-3-chipset-launched-starting-at-29999/articleshow/110367623.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-f6-with-snapdraon-8s-gen-3-chipset-launched-starting-at-29999/articleshow/110367623.cms" target="_blank">Poco F6 with Snapdraon 8s Gen 3 chipset launched starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank">Realme GT 6T vs Motorola Edge 50 Pro – price, specs and features compared</a><a href="https://www.businessinsider.in/sports/webstories/sunrisers-hyderabad-and-rajasthan-royals-compete-for-the-ipl-finals-spot-on-may-24/slidelist/110362880.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/sunrisers-hyderabad-and-rajasthan-royals-compete-for-the-ipl-finals-spot-on-may-24/slidelist/110362880.cms" target="_blank">Sunrisers Hyderabad and Rajasthan Royals compete for the IPL finals spot on May 24</a>

Rupee rises 12 paise to 83.17 against US dollar in early trade

New Delhi, The rupee appreciated 2 paise to 83.35 against the US dollar in early trade on Wednesday, amid a bullish trend in domestic equities and sustained foreign fund inflows. Forex traders said investors remained on the sidelines ahead of the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s monetary policy decision later this week. At the interbank foreign exchange, the rupee opened 2 paise higher at 83.35 against the dollar as domestic benchmark indices touched new lifetime peaks. On Tuesday, the rupee settled at 83.37 against the dollar. "The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored," CR Forex Advisors MD Amit Pabari said. The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review. RBI Governor Shaktikanta Das-headed <keyword id="6375120" type="General" weightage="80" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> (MPC) is scheduled to begin its three-day deliberations on December 6. Das would unveil the decision of the six-member MPC on December 8. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 103.93. Brent crude futures, the global oil benchmark, advanced 0.12 per cent to USD 77.29 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 269.23 points or 0.39 per cent higher at 69,565.25 points. The broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> jumped 79.50 points or 0.38 per cent to 20,934.60 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 5,223.51 crore, according to exchange data.

Rupee rises 2 paise to 83.35 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 15 paise to 81.65 against the US dollar in early trade on Thursday tracking the weakness of the American currency in the overseas market. <keyword id="2155647" type="General" weightage="20" keywordseo="forex-traders" source="Orion">Forex traders</keyword> said significant foreign fund inflows and <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">crude oil prices</keyword> below USD 75 a barrel also supported the local unit. At the interbank foreign exchange, the domestic unit opened strong at 81.68 against the dollar and then rose to 81.65, registering a rise of 15 paise over its previous close. On Wednesday, the rupee closed at 81.80 against the US currency. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, fell 0.24 per cent to 101.09. "The Fed hiked rates by 25 bps to 5.00-5.25 per cent, in line with market expectations. In its statement, the FOMC removed its mention of future interest rate increases, hinting at a likely pause in June, which majorly weighed on the DXY," CR Forex Advisors MD Amit Pabari said. Brent crude futures, the global oil benchmark, advanced 0.57 per cent to USD 72.74 per barrel. "Broad weakness in the USD and falling crude prices continued to help the local currency trade higher. However, the RBI continued to mop up the excess dollars to avoid volatility and build up forex reserves. FII continued to remain positive for May as India remained a stronghold place as compared to its peers, which is also weighing on the dollar demand," Pabari said. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 1,338.00 crore, according to exchange data. Pabari further added, "overall, the rupee is expected to trade in the narrow range of 81.70-82.30 levels as geopolitical tensions are increasing leading to huge volatility." In the domestic equity market, the 30-share BSE Sensex advanced 76.42 points or 0.12 per cent to 61,269.72. The broader NSE Nifty rose 29.30 points or 0.16 per cent to 18,119.15. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hiring-in-it-companies-like-tcs-wipro-infosys-hcl-tech-plunges-by-66-in-fy23/articleshow/99960690.cms">Hiring in the IT sector plunges by 66% in FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titan-q4-net-profit-rises-50-to-734-crore-as-wedding-segment-makes-a-comeback/articleshow/99964029.cms">Titan Q4 net profit rises 50% to ₹734 crore as wedding segment makes a comeback</a>

Rupee rises 15 paise to 81.65 against US dollar in early trade

The rupee depreciated by 8 paise to 82.14 against the US dollar in early trade on Friday, weighed down foreign fund outflows and losses in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.12 against the dollar fell further to 82.14, registering a decline of 8 paise over its last close. On Thursday, the rupee settled at 82.06 against the US dollar. "The 81.70-80 zone seems protected by the importer's dollar demand and suspected RBI intervention, which brought the INR back to 82.00 levels," CR Forex Advisors MD Amit Pabari said. Moreover, the March seasonality due to the financial year end and prospects of further FDI flows could help the rupee limit losses, despite weaker Asian peers over the past month, Pabari added. The <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 105.18. "The DXY weakened from 105.70 to 105.20 as traders booked profits on the back of increased unemployment claims data overnight," Pabari said, adding that Friday is set for Make-or-Break day for the DXY, ahead of the key US economic data due later in the day. Brent crude futures, the global oil benchmark, declined 0.54 per cent to USD 81.15 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 792.66 points or 1.33 per cent lower at 59,013.62 points. The broader NSE Nifty declined 200.35 points or 1.14 per cent to 17,389.25 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 561.78 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">Reliance brings back the iconic Campa beverage brand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/the-great-hustler-sharks-back-a-founder-but-not-his-startup-on-shark-tank-india-s2/articleshow/98518382.cms">The great hustler: Sharks back a founder but not his startup on Shark Tank India S2</a>

Rupee falls 8 paise to 82.14 against US dollar in early trade

The rupee gained 13 paise to 81.82 against the <keyword id="6368584" type="General" weightage="20" keywordseo="US-dollar" source="Orion">US dollar</keyword> in early trade on Thursday, boosted by foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 81.93 against the dollar, then climbed to 81.82, registering a rise of 13 paise over its previous close. On Wednesday, the rupee closed at 81.95 against the US currency. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 105.63. Overall, higher US bond yields and risk-off-tilted equity sentiment are making a base case for the stronger USD, CR Forex Advisors MD Amit Pabari said, adding that FDI and FPIs have acted as life support for the rupee. "In March, they (FPIs) are net investors with more than Rs 10,000 crore in equities... we could see rupee trading in the range of 81.50 to 82.50 over the short-term," Pabari said. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 3,671.56 crore, according to exchange data. Brent crude futures, the global oil benchmark, advanced 0.02 per cent to USD 82.66 per barrel on Thursday. In the domestic equity market on Thursday, the 30-share BSE Sensex fell 131.61 points or 0.22 per cent to 60,216.48 points. The broader NSE Nifty declined 33.30 points or 0.19 per cent to 17,721.10 points. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/ranbir-kapoor-continues-to-chase-romance-on-screen/articleshow/98475504.cms">In an industry where action sells, Ranbir Kapoor continues to chase romance on-screen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/longer-trading-hours-better-norms-for-ipos-among-assochams-recommendations-for-equity-markets/articleshow/98477860.cms">Longer trading hours, better norms for IPOs among Assocham’s recommendations for equity markets</a>

Rupee rises 13 paise to 81.82 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated 25 paise to 82.46 against the US dollar in early trade on Monday, weighed down by firm crude oil prices and a negative trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.44 against the dollar, then fell to 82.46, registering a decline of 25 paise over its last close. On Friday, the rupee settled at 82.21 against the dollar. The <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.48 per cent to 102.99. Brent crude futures, the global oil benchmark, advanced 5.50 per cent to USD 84.28 per barrel. "... Appreciation in rupee shall remain limited to 81.50-81.80 zone where importer can target buying and upside shall for now remain protected towards 82.70-82.90 region for this week," CR Forex Advisors MD-Amit Pabari said. "With a holiday shortened week, highlights would be the RBI policy due on April 6 and US payrolls due on April 7," Pabari added. The Monetary Policy Committee (MPC) of the Reserve Bank will be meeting for three days on April 3, 5 and 6 to take into account various domestic and global factors before coming out with the first bi-monthly monetary policy for fiscal 2023-24. The RBI has already increased the repo rate by a total of 250 basis points since May in a bid to contain inflation though it has continued to remain above the central bank's comfort zone of 6 per cent for most of the time. In the domestic equity market, the 30-share BSE Sensex was trading 64.56 points or 0.11 per cent lower at 58,926.96. The broader NSE Nifty declined 9.60 points or 0.06 per cent to 17,350.15. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 357.86 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/avalon-technologies-ipo-top-10-points-about-this-electronic/slidelist/99201942.cms">Avalon Technologies IPO opens – 10 things you need to know before you subscribe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-stocks-that-delivered-the-highest-yield-over-one-year/slidelist/99145713.cms">Time to bet on dividend income: Top stocks that delivered the highest yield over one year</a>

Weighed down by crude prices, Rupee falls 25 paise to 82.46/USD

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 36 paise to 82.24 against the US dollar in early trade on Friday as fresh foreign fund inflows and a positive trend in domestic equities strengthened investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.28 against the dollar, then gained ground and rose to 82.24, registering a rise of 36 paise over its previous close. On Thursday, the rupee closed at 82.60 against the US currency. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, fell 0.13 per cent to 104.88. Brent crude futures, the global oil benchmark, declined 0.39 per cent to USD 84.42 per barrel. "The Indian rupee had the best week after more than one month, helped by the renewed risk-on sentiment in global markets. The rupee seems to be gaining in the NDF market suggesting offshore players did a long unwinding of the USD position," CR Forex Advisors MD Amit Pabari said. Also, inflows of over Rs 12,000 crore on the back of Adani's block deal made the job for rupee bulls easier. "The local currency is expected to gain against the USD this month as dollar inflows from corporates are on the higher side at the end of the financial year in March. However, moving on, we expect a theme of aggressive Fed policy in the near term to limit the gains in the local unit," Pabari added. In the domestic equity market, the 30-share BSE Sensex rose 482.37 points or 0.82 per cent to 59,391.72 points. The broader NSE Nifty advanced 154.15 points or 0.89 per cent to 17,476.05 points. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital market on Thursday as they purchased shares worth Rs 12,770.81 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-governments-january-capex-jumps-60-yoy-after-a-slump-in-december/articleshow/98365499.cms">Indian government’s January capex jumps 60% YoY after a slump in December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-groups-combined-market-cap-crosses-8-lakh-crore/articleshow/98302675.cms">Adani group stocks gain for the second consecutive day, adding over ₹78,000 crore to combined market cap in two days</a>

Rupee rises 36 paise to 82.24/USD on fresh foreign fund inflows & rising domestic equities

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 18 paise to 81.93 against the US dollar in early trade on Thursday tracking the broad weakness of the American currency in the overseas market. Forex traders said foreign fund inflows also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 81.99 against the dollar, then climbed to 81.93, registering a rise of 18 paise over its previous close. On Wednesday, the rupee closed at 82.11 against the US currency. "Overall USDINR has strong support around 81.75-80 levels, as the RBI is intervening to protect from steep appreciation. Adding to it, the ongoing geopolitical concerns and Fed's hiking process are likely to weigh on investor sentiment and the USDINR could bounce back to 82.50-82.80 levels," CR Forex Advisors MD-Amit Pabari said. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 101.55. Brent crude futures, the global oil benchmark, declined 0.22 per cent to USD 87.14 per barrel. "Brent has risen to USD 87.25 per barrel as weak US CPI could mean that the Fed could sound less hawkish," IFA Global Research Academy said in a research note. In the domestic equity market, the 30-share BSE Sensex declined 43.95 points or 0.07 per cent to 60,348.82. The broader NSE Nifty declined 1.05 points or 0.01 per cent to 17,811.35. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 1,907.95 crore, according to exchange data. On the domestic macroeconomic front, retail inflation in March fell to a 15-month low of 5.66 per cent and came back to the Reserve Bank's comfort level of 6 per cent. India's industrial production growth rose marginally to 5.6 per cent in February from 5.5 per cent in January 2023, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Wednesday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-q4-fy23-revenue-growth-slowest-in-11-quarters/articleshow/99439692.cms">TCS Q4 constant currency revenue growth hits a 11-quarter low</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/after-languishing-since-fy19-two-wheeler-growth-to-outpace-passenger-vehicles-in-fy24-25/articleshow/99438958.cms">After languishing since FY19, two-wheeler growth to outpace passenger vehicles in FY24-25</a>

Rupee rises 18 paise to 81.93 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 10 paise to 81.72 against the <keyword id="6368584" type="General" weightage="20" keywordseo="us-dollar" source="Orion">US dollar</keyword> in early trade on Tuesday tracking a weak American currency and a firm trend in domestic equities. Forex traders said significant foreign fund inflows and crude oil prices below USD 80 a barrel also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 81.75 against the dollar and then climbed to 81.72, registering a rise of 10 paise over its previous close. On Friday, the rupee closed at 81.82 against the US currency. Forex and equity markets were closed on Monday on account of 'Maharashtra Day'. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 per cent to 102.03. Brent crude futures, the global oil benchmark, advanced 0.15 per cent to USD 79.43 per barrel. Forex traders said investors are waiting for cues from the paramount US FOMC meeting beginning later in the day. Market now awaits the Federal Open Market Committee (FOMC) outcome on May 3. Markets are wondering if it will be the last hike for the season or if a surprise still awaits. "A 25bps hike with a cautiously hawkish tone amid resilient economic data shall again pump the dollar above 103 levels," CR Forex Advisors MD Amit Pabari said. In the domestic equity market, the 30-share BSE Sensex advanced 336.5 points or 0.55 per cent to 61,448.94. The broader NSE Nifty rose 96.50 points or 0.53 per cent to 18,161.50. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 3,304.32 crore, according to exchange data. On the domestic macroeconomic front, record GST collections and a four-month high manufacturing PMI are aiding bullish sentiments. The GST collection in April rose by 12 per cent annually to over Rs 1.87 lakh crore, touching an all-time monthly high, the finance ministry data released on Monday said. Manufacturing activities in India accelerated further and touched a four-month high in April. The seasonally adjusted S&amp;P Global India Manufacturing Purchasing Managers' Index (PMI) increased from 56.4 in March to 57.2 in April. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/godrej-consumer-has-to-double-raymonds-consumer-business-for-it-to-be-earnings-accretive-say-analysts/articleshow/99906464.cms">Godrej Consumer has to double Raymond’s consumer business for it to be earnings accretive, say analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hit-jobs-heres-what-techies-make-in-consumer-goods-travel-and-e-commerce-sectors/articleshow/99904726.cms">Hit Jobs: Here’s what techies make in consumer goods, travel and e-commerce sectors</a>

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