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Mumbai, The rupee recovered from its all-time low levels and appreciated by 5 paise to 83.05 against the US dollar in early trade on Monday tracking a positive trend in domestic equities. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 83.05 against the American currency, registering a rise of 5 paise over its last close. On Friday, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar, weighed down by a negative trend in domestic equities, and foreign fund outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 103.39. Dollar witnessed its longest winning streak in the last 15 months following safe haven buying on the back of uncertainty in China and better-than-expected economic numbers from the US, said Gaurang Somaiya, forex and bullion analyst, <keyword id="248720" type="General" weightage="50" keywordseo="motilal-oswal-financial" source="Orion">Motilal Oswal Financial</keyword> services. Rising uncertainty over economic recovery in China is leading to weakness in the Chinese Yuan and thereby weighing on the rupee, Somaiya added. Most investors will be taking cues from the BRICS summit and the Jackson Hole Symposium. "We expect the USDINR(Spot) to trade sideways and quote in the range of 82.80 and 83.30," Somaiya said. Brent crude futures, the global oil benchmark, rose 0.73 per cent to <keyword id="54123" type="General" weightage="80" keywordseo="usd" source="Orion">USD</keyword> 85.42 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 117.43 points or 0.18 per cent higher at 65,066.09. The broader NSE Nifty advanced 26.40 points or 0.14 per cent to 19,336.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 266.98 crore, according to exchange data. Meanwhile, India's foreign exchange reserves jumped USD 708 million to USD 602.161 billion for the week ended August 11, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous week, the overall reserves had declined USD 2.417 billion to USD 601.453 billion.

Rupee rises 5 paise to 83.05/USD tracking domestic equities

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 22 paise to 82.08 against the US dollar in early trade on Tuesday, tracking positive domestic equities and an overnight fall in the dollar index. At the interbank foreign exchange, the domestic unit opened at 82.21 against the dollar, then gained further ground to touch 82.08, a gain of 22 paise over its previous close. On Monday, the rupee depreciated by 11 paise to close at 82.30 against the US dollar. The rupee started stronger this Tuesday, tracking an overnight fall in the dollar index, said Sriram Iyer, Senior Research Analyst at Reliance Securities. "RBI's continued presence in the markets and oil prices have stabilised and could aid sentiments," Iyer said, adding that Asian and emerging market peers remained weak this Tuesday morning amid recessionary fears and could cap appreciation bias for the local unit. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 112.15. <keyword id="56586" type="General" weightage="20" keywordseo="brent-crude" source="Orion">Brent crude</keyword> futures, the global oil benchmark, rose 0.32 per cent to USD 91.91 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 580.07 points or 0.99 per cent up at 58,991.05. Similarly, the broader NSE Nifty rose 167.85 points or 0.97 per cent to 17,479.65. <keyword id="6438315" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets, as they offloaded shares worth Rs 372.03 crore on Monday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rural-recovery-underway-says-morgan-stanley/articleshow/94935646.cms">Rural recovery underway says Morgan Stanley</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/two-in-three-ceos-in-india-expect-a-recession-in-12-months-says-survey/articleshow/94934951.cms">Two in three CEOs in India expect a recession in 12 months says survey</a>

Rupee rises 22 paise to 82.08/USD tracking positive domestic equities

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> traded in a narrow range and appreciated 2 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.49 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in <keyword id="51932" type="General" weightage="20" keywordseo="early-trade" source="Orion">early trade</keyword> on Thursday, as a positive trend in domestic equities supported the local unit, while elevated crude oil prices weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.49, registering a rise of 2 paise from its previous close. On Wednesday, the rupee stayed range-bound and settled 2 paise lower at 83.51 against the US dollar. "Persistent demand for the dollar from local importers has capped the rupee's potential gains, yet its outlook remains optimistic, buoyed by recent positive economic indicators," CR Forex Advisors MD-Amit Pabari said. Pabari further said the rupee's outlook is supported by strong foreign inflows, a positive economic forecast, and India's impressive macroeconomic growth, currently the fastest among large economies. The Reserve Bank of India (RBI) appears determined to prevent the rupee from depreciating below 83.70, despite pressure from oil companies due to elevated oil prices, he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.93, lower by 0.11 per cent. Brent crude futures, the global oil benchmark, advanced 0.76 per cent to <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 85.73 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose 105.32 points, or 0.13 per cent, to 80,030.09 points. The broader NSE Nifty advanced 21.60 points, or 0.09 per cent, to 24,346.05 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 583.96 crore, according to exchange data.

Thanks to positive trend in domestic equities, Indian rupee rises to 83.49 against US dollar in early trade

The rupee gained 24 paise to 81.73 against the US dollar in early trade on Monday amid a positive trend in domestic equities. Forex traders said foreign fund inflows also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 81.85 against the dollar, then climbed to 81.73, registering a rise of 24 paise over its previous close. On Friday, the rupee closed at 81.97 against the US currency. The forex traders said the rupee is likely to trade with a positive bias on improved global risk sentiments and fresh foreign fund inflows. Moreover, weak crude oil prices and muted <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword> may also support the domestic currency, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 104.43. Brent crude futures, the global oil benchmark, declined 0.70 per cent to USD 85.23 per barrel. In the domestic equity market, the 30-share BSE Sensex rose 564.81 points or 0.94 per cent to 60,373.78 points. The broader NSE Nifty advanced 166.95 points or 0.95 per cent to 17,761.30 points. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 246.24 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/sensex-nifty50-open-higher-amid-positive-global-cues-metal-it-psu-banks-top-gainers/articleshow/98441277.cms">Sensex, Nifty50 open higher amid positive global cues; metal, IT, PSU banks top gainers</a>

Rupee rises 24 paise to 81.73/USD amid a positive trend in domestic equities

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> depreciated 9 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.27 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Wednesday, tracking a negative trend in <keyword id="20024980" type="General" weightage="20" keywordseo="domestic-equities" source="keywords">domestic equities</keyword> and elevated crude oil prices. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the local unit faced some resistance due to subdued sentiment in the domestic equity market and strengthening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 83.22 and lost further ground to trade at 83.27 against the greenback, registering a loss of 9 paise from its previous closing level. On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar. "The <keyword id="91748" type="General" weightage="20" keywordseo="Indian-rupee" source="Orion">Indian rupee</keyword> was sold off on Tuesday as oil and probably the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords">Reserve Bank of India</keyword> (RBI) bought dollars (about USD 1 billion) to keep rupee appreciation in control before the month-end and the Lok Sabha election results," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The USD/INR pair is likely to trade with a narrow range of 83.15/25 during the day, Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.72, higher by 0.11 per cent. Brent crude futures, the global oil benchmark, advanced 0.21 per cent to USD 84.40 per barrel. On the domestic equity market, the 30-share BSE Sensex was trading 227.75 points, or 0.30 per cent lower at 74,942.70 points. The broader NSE Nifty fell 74.30 points or 0.32 per cent to 22,813.85 points in initial trade. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 65.57 crore, according to exchange data.

Rupee falls 9 paise to 83.27 against US dollar in early trade

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

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

The rupee climbed 9 paise to 83.37 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Friday, tracking strong sentiment in the <keyword id="20226142" type="General" weightage="20" keywordseo="domestic-equity-markets" source="keywords">domestic equity markets</keyword> and a weak American currency against major rivals overseas. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said the outflow of foreign funds and elevated level of crude oil prices, however, weighed on the Indian currency. At the interbank foreign exchange, the domestic unit opened strong at 83.40 and touched the intra-day peak of 83.36 against the greenback. The local unit later traded at 83.37 against the dollar in the morning deals, registering a gain of 9 paise from its previous closing level. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday. According to Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, the dollar was weighed down against major crosses after the US Federal Reserve kept the key interest rate unchanged for the sixth consecutive time. Also, the ongoing pressures and a tight labour market indicated a stall in progress toward bringing inflation back to its 2 per cent target this year. Analysts also said market participants are expected to keep a close watch on the US non-farm payroll data to be released on Friday. Besides, weekly unemployment claims, trade balance and factory order data from the US are likely to provide further cues. "Today, the focus will be on the non-farm payrolls data, which is expected to come in marginally lower and that could weigh on the greenback. Apart from payrolls, services PMI number is also likely to trigger volatility for the dollar. We expect USD-INR (Spot) to trade sideways and quote in a range of 83.20-83.50," Somaiya said. India's manufacturing PMI fell to 58.8 in April 2024 from 59.1 in the previous month, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), however, recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.04 per cent to 105.13. Brent crude futures, the global oil benchmark, rose 0.36 per cent to USD 83.97 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 463.87 points or 0.62 per cent higher at 75,074.98. The broader NSE Nifty soared 136.65 points or 0.60 per cent to 22,784.85. Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they sold shares worth Rs 964.47 crore on a net basis, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank" style="">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Rupee jumps 9 paise to 83.37 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="80" keywordseo="rupee" source="Orion">rupee</keyword> depreciated by 24 paise to close at 82.44 (provisional) against the US <keyword id="35208" type="General" weightage="100" keywordseo="dollar" source="Orion">dollar</keyword> on Friday weighed down by the strength of the American currency and massive selling in the domestic equity market. At the interbank foreign exchange market, the local unit opened lower by 12 paise at 82.32 as the US dollar rebounded against global currencies. During intra-day trade, the rupee touched a high of 82.20 and a low of 82.49 against the greenback. The domestic unit finally settled at 82.44 (provisional) against the American currency, 24 paise lower against its previous close. On Thursday, the rupee settled at 82.20 against the US dollar. According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the Indian rupee depreciated due to weak domestic markets and a positive Dollar. Sustained FII outflows also weighed on the domestic currency. The dollar rose on safe-haven appeal amid weak Asian and European currencies and equities. Dollar also gained on upbeat US current account deficit and new home sales data. Bank of England hiked interest rates by 25 bps to 4.25 per cent, the highest in 15 years, Choudhary said. "We expect the Indian Rupee to trade with a negative bias on risk aversion in global markets and a positive Dollar. Selling pressure from FIIs and month-end Dollar demand from importers may also weigh on Rupee," Choudhary added. However, easing crude oil prices may support Rupee at lower levels. Traders may remain cautious ahead of durable goods orders and PMI data from the US, Choudhary said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.67 per cent higher at 103.22. Brent crude, the global oil benchmark, fell sharply by 3.23 per cent to <keyword id="54123" type="General" weightage="50" keywordseo="usd" source="Orion">USD</keyword> 73.46 per barrel. Global equity markets saw subdued trade amid reports that the US is likely to defer restocking of its strategic oil reserves despite current low prices. On the domestic equity market front, the benchmark BSE <keyword id="15325219" type="TOPIC" weightage="60" keywordseo="sensex" source="TOPIC" sourcekeytype="business-economics" meta.keywordsubtype="null" meta.msid="58713695" meta.aliasname="BSE SENSEX,Sensex India,India sensex,sensex rate,sensex high,sensex low,todays sensex,sensex today,sensex price,market" meta.seopath="business-economics/sensex" meta.entityname="sensex" meta.hostid="83" meta.entityid="sensex">Sensex</keyword> declined by 398.18 points or 0.69 per cent to settle at 57,527.10 points, while the broader <keyword id="13495610" type="COMPANY" weightage="50" keywordseo="nifty" source="Orion" meta.marketcap="0" meta.tagname="Nifty 50" meta.tagpopularcount="0" meta.entitytype="index" meta.symbolbyexchange="NSE Index" meta.aum="0" meta.matchtype="exact" meta.entityid="2369" meta.tagseoname="nifty-50" meta.exchangename="NSE" meta.tagnameorg="Nifty 50">Nifty</keyword> dropped by 138.85 points or 0.77 per cent to 16,945.05 points. Foreign Portfolio Investors (FPIs) were net sellers on Thursday as they sold equities worth Rs 995 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/layoffs-coming-to-the-indian-it-sector-analysts-say-accentures-jobs-cuts-offers-a-blueprint/articleshow/98970175.cms">Layoffs coming to the Indian IT sector? Analysts say Accenture’s jobs cuts offers a ‘blueprint’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/bank-fraud-ed-attaches-252-crore-worth-ambience-tower-in-delhis-shalimar-bagh/articleshow/98970419.cms">Bank fraud: ED attaches ₹252 crore worth 'Ambience Tower' in Delhi's Shalimar Bagh</a>

Weighed down by a strong dollar, Rupee falls 24 paise to close at 82.44/USD

Mumbai, The rupee depreciated 7 paise to 82.25 against the US dollar in early trade on Monday, tracking a strong American currency and outflow of foreign funds from domestic equity markets. Elevated level of crude prices crossing USD 84 a barrel and subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 82.23, then touched a high of 82.21 against the American currency. It later traded at 82.25, registering a fall of 7 paise over its previous close. On Friday, the rupee had settled at 82.18 against the dollar. According to experts, traders were also upbeat on dollar on the back of positive macroeconomic data from the US and robust sentiment in the global markets. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.14 per cent to 101.77. Brent crude futures, the global oil benchmark, was trading 0.53 per cent lower at USD 84.54 per barrel. In the domestic equity market, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 120.58 points or 0.18 per cent lower at 66,039.62. The broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> declined 34.50 points or 0.18 per cent to 19,611.55. <keyword id="6438315" type="General" weightage="80" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 1,023.91 crore, according to exchange data.

Rupee falls 7 paise to 82.25/USD as dollar index rises

The <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> appreciated by 34 paise to close at 81.86 (provisional) against the US currency on Friday, supported by a rebound in domestic equities and easing crude oil prices. At the interbank <keyword id="136565" type="General" weightage="20" keywordseo="foreign-exchange-market" source="Orion">foreign exchange market</keyword>, the local unit opened at 82.15 against the American currency and finally settled at 81.86 against the greenback, registering a gain of 34 paise over its previous close of 82.20. During the <keyword id="396295" type="General" weightage="20" keywordseo="trading-session" source="Orion">trading session</keyword>, the rupee also touched a low of 82.31 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.12 per cent to 101.63. <keyword id="2557147" type="General" weightage="20" keywordseo="Global-oil-benchmark" source="Orion">Global oil benchmark</keyword> Brent crude futures advanced 0.39 per cent to USD 82.49 per barrel. "Indian Rupee appreciated on a rebound in domestic equities and weakness in crude oil prices. However, positive US Dollar capped sharp gains," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Choudhary further noted that the rupee depreciated earlier today as PMI data was disappointing. India's services PMI fell to 57.2 in January from 58.5 in December while the composite PMI fell to 57.5 from 59.4 during the same period. "We expect the Rupee to trade with a slight positive bias as a rebound in domestic equities may lead to fresh foreign inflows. Decline in crude oil prices and weak Dollar amid dovish Fed may support Rupee at lower levels," Choudhary said. Market participants may remain cautious ahead of non-farm payrolls and ISM services PMI data from the US. While the payroll data is expected to show a slowdown in the pace of job additions, services PMI is expected to show the sector move to <keyword id="13121825" type="General" weightage="40" keywordseo="expansion" source="ETB2B" meta.aliasname="expansion" meta.entityname="expansion" meta.entityid="7045">expansion</keyword> territory, Choudhary added. On the <keyword id="1036447" type="General" weightage="20" keywordseo="domestic-equity-market" source="Orion">domestic equity market</keyword> front, the 30-share BSE Sensex advanced 909.64 points or 1.52 per cent to end at 60,841.88, while the broader NSE Nifty rose 243.65 points or 1.38 per cent to 17,854.05. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065.35 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/bob-q3-profit-jumps-75-to-3853-crore/articleshow/97577932.cms">BoB Q3 profit jumps 75% to ₹3,853 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/two-thirds-taxpayers-likely-to-shift-to-new-regime-in-2023-24-itself-cbdt-chief/articleshow/97579158.cms">Two-thirds taxpayers likely to shift to new regime in 2023-24 itself: CBDT chief</a>

Rupee gains 34 paise to close at 81.86 against US dollar

Mumbai, The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 82.63 against the US dollar, as the support from positive domestic equities was negated by rising American currency and recovery in crude oil prices. Forex traders said the Indian rupee witnessed modest gains on Monday on positive domestic equities. However, rising US dollars and recovery in crude oil prices capped sharp gains. At the interbank foreign exchange, the domestic unit opened at 82.58 and finally settled for the day at 82.63 against the American currency. During the day, the rupee witnessed an intra-day high of 82.52 and a low of 82.65 against the greenback. On Friday, the rupee declined by 8 paise to settle at 82.64 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent higher at 104.07. The US dollar gained on somewhat hawkish comments from the Fed Chair <keyword id="1727754" type="General" weightage="80" keywordseo="jerome-powell" source="Orion">Jerome Powell</keyword> at the Jackson Hole Symposium, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Brent crude futures, the global oil benchmark, rose 0.04 per cent to USD 84.51 per barrel. "We expect the rupee to trade with a slight negative bias on the strong dollar and recovery in crude oil prices. Selling pressure from FIIs may also weigh on rupee," Choudhary said. However, a positive tone in domestic markets and a rise in risk appetite may support the domestic currency at lower levels. "Any intervention by the RBI may also support rupee. Investors may remain cautious ahead of jobs data from US and India's manufacturing PMI and GDP data later this week. USDINR spot price is expected to trade in a range of Rs 82.30 to Rs 83," Choudhary added. On the domestic equity market front, the BSE Sensex closed 110.09 points or 0.17 per cent higher at 64,996.60. The broader NSE Nifty advanced 40.25 points or 0.21 per cent to 19,306.05. Foreign Institutional Investors (FIIs) were net sellers in capital markets on Friday as they offloaded shares worth Rs 4,638.21 crore, according to exchange data. Meanwhile, India's foreign exchange reserves dropped by USD 7.273 billion to USD 594.888 billion in the week ended August 18, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) said on Friday. In the previous week, the overall reserves had risen by USD 708 million to USD 602.161 billion.

Rupee ends flat as rising crude, strong dollar cap strong gains

Mumbai, The rupee depreciated 8 paise to 82.68 against the US dollar in early trade on Friday amid a muted trend in domestic equities and rising crude oil prices. However, sustained foreign fund inflows supported the local unit and contained the fall. At the interbank foreign exchange, the domestic unit opened at 82.68, registering a decline of 8 paise over its last close. On Thursday, the rupee had settled at 82.60 against the dollar. Forex traders said participants remained bullish on the greenback due to risk-aversion and rising expectations of hawkish monetary policy by the <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>. Moreover, rising crude oil prices also weighed on the domestic unit. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.12. Brent crude futures, the global oil benchmark, rose 0.29 per cent to USD 76.74 per barrel. In the domestic equity market, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 47.47 points or 0.07 per cent lower at 65,738.17. The broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> declined 18.40 points or 0.09 per cent to 19,478.90. <keyword id="6438315" type="General" weightage="80" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 2,641.05 crore, according to exchange data.

Rupee falls 8 paise to 82.68/USD as crude oil price rises

The <keyword id="6355302" type="General" weightage="20" keywordseo="Rupee" source="Orion">rupee</keyword> pared its initial gains to settle 10 paise down at 82.16 (provisional) against the <keyword id="6368584" type="General" weightage="20" keywordseo="US-dollar" source="Orion">US dollar</keyword> on Monday, tracking the weak sentiment in the domestic equity market and unabated foreign fund outflow. Traders said the fall in crude oil prices and the weaker dollar against major currencies, however, restricted the fall of the Indian currency. At the interbank foreign exchange market, the local unit opened stronger at 81.78 against the American currency and touched a low of 82.20 during the intra-day. It settled at 82.16 (provisional) against the greenback, registering a loss of 10 paise over its previous close of 82.06. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.37 per cent to 104.19. Global oil benchmark Brent crude futures declined 1.72 per cent to USD 81.36 per barrel. On the domestic equity market front, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> declined 897.28 points or 1.52 per cent to end at 58,237.85, while the broader NSE <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> fell 258.60 points or 1.49 per cent to 17,154.30. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 2,061.47 crore, according to exchange data. Investors were trading cautiously as they were concerned over the developments following the collapse of the Silicon Valley Bank in the US. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/massive-selloff-in-domestic-equities-amid-us-bank-failures-sensex-closes-below-59000-nifty-tests-17000/articleshow/98606362.cms">Massive selloff in domestic equities amid US bank failures: Sensex closes below 59,000, Nifty tests 17,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/remains-of-13th-century-temple-found-in-jajpur/articleshow/98606118.cms">Remains of 13th century temple found in Jajpur</a>

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