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Mumbai, The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> paused its two days of gains and settled 6 paise lower at 83.24 (provisional) against the US <keyword id="35208" type="General" weightage="20" keywordseo="dollar" source="Orion">dollar</keyword> on Thursday as rising crude oil prices dented the investor sentiment. Forex analysts said early gains in the domestic currency on the back of the weak dollar were reversed by the subdued domestic equity markets and concerns over foreign funds withdrawal. At the interbank foreign exchange, the rupee opened at 83.17 and then traded between the intra-day peak of 83.12 and the lowest level of 83.25 against the greenback. The local unit finally settled at 83.24 (provisional), registering a loss of 6 paise from its previous close. The rupee had settled 7 paise higher on Wednesday, a day after gaining 3 paise against the American currency. Market participants were also awaiting the industrial production data for August and inflation numbers for September to be released later in the day, which will provide insights into the country's economic health. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee is expected to trade with a slight positive bias on expectations of a decline in India's inflation and a rise in risk appetite in global markets. "Traders may remain cautious ahead of India's CPI and <keyword id="132840" type="General" weightage="20" keywordseo="iip-data" source="Orion">IIP data</keyword>. Traders may also take cues from US CPI, weekly unemployment claims and Federal Budget balance data. USD-INR spot price is expected to trade in a range of Rs 82.70 to Rs 83.60," Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent lower at 105.72. Brent crude futures, the global oil benchmark, witnessed a sharp rise of 1.20 per cent to USD 86.85 per barrel. On the domestic equity market front, the BSE Sensex closed 64.66 points or 0.10 per cent lower at 66,408.39. The broader NSE Nifty declined 17.35 points or 0.09 per cent to 19,794. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 421.77 crore, as per exchange data.

Rupee falls 6 paise against US dollar amid rising crude prices

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> consolidated in a narrow range and settled for the day lower by 1 paisa at 83.96 (provisional) against US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> on Thursday, after the Reserve Bank expectedly kept the benchmark interest rate and stance unchanged for the ninth straight policy meeting. Forex traders said weak domestic markets, surge in crude oil prices and foreign fund outflows weighed on the rupee. However, a decline in the US Dollar index prevented the local unit from declining sharply. At the interbank foreign exchange market, the local unit opened at 83.94 and touched an intraday low of 83.97 and a high of 83.93 against the dollar during the session. It finally settled at 83.96 (provisional) against the American currency, down 1 paisa from its previous close. On Wednesday, the rupee consolidated in a narrow range and settled for the day lower by 3 paise at 83.95 against US dollar. The local unit had slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday. "We expect the rupee to trade with a negative bias on selling pressure from foreign investors and weak domestic markets. Ongoing geopolitical tensions in the Middle East may also pressurise the rupee," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. However, weak US dollar may support the rupee at lower levels. Any intervention by <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> may also support the rupee. "Traders may take cues from weekly unemployment claims data from the US. USDINR spot price is expected to trade in a range of Rs 83.75 to Rs 84.20," Choudhary said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 per cent to 103.07 points. <keyword id="20025497" type="General" weightage="20" keywordseo="Brent-crude" source="keywords">Brent crude</keyword>, the global oil benchmark, was trading 0.78 per cent lower at USD 77.72 per barrel in futures trade. On the macroeconomic front, the Monetary Policy Committee (MPC) of the Reserve Bank kept the benchmark repurchase or repo rate unchanged at 6.50 per cent. Announcing the bi-monthly monetary policy review RBI Governor Shaktikanta Das said Indian rupee remained largely range-bound so far this financial year. The panel also decided to retain a policy stance at "withdrawal of accommodation" to aid MPC's focus on bringing inflation towards its 4 per cent target. The status quo by RBI comes amid varied central bank action in advanced economies. While the Bank of England reduced interest rates last week, the Bank of Japan hiked rates to their highest levels since 2008. Also, fears of a US recession have risen on the back of weak employment numbers, piling up pressure on the Federal Reserve to start cutting rates to support the economy. In the domestic equity market, the 30-share BSE Sensex fell 581.79 points, or 0.73 per cent, to close at 78,886.22 points, while the Nifty declined 180.50 points, or 0.74 per cent, to 24,117.00 points. Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 3,314.76 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a><a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank">RBI MPC meet – Cheque clearing time reduced, UPI limit increased for tax payment</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Rupee falls 1 paisa to close at 83.96 against US dollar

New Delhi, Jun 2 () The rupee is likely to be stable if crude oil prices stay at moderate level and fiscal deficit is under check, State Bank of India Chairman Rajnish Kumar said on Tuesday. So far, the rupee has been stable against the dollar, he said at the CII Annual session. "If the crude oil (prices) remain where they are, then there will be much less pressure on it. Our largest imports were either crude oil or gold. So gold import is practically zero and crude import is down because of softness in the prices. So that's why pressure on the rupee is much less...So far the restraints shown by the government and the trend is likely to continue in the future," he said. The rupee has not witnessed a sharp spike in the past two months and has been trading in the range of 75-76 per dollar. Brent crude, the global price benchmark, was trading around USD 39 per barrel while oil for the Indian basket was quoted near USD 35 per barrel on Tuesday. "I am expecting that currency is going to be stable," he said. With regard to lending to the NBFC sector, Kumar said SBI has been giving financial support to all such institutions which have satisfactory relation with the bank. DP MR MR

Rupee likely to stay stable if crude prices remain at current levels: SBI chairman

Mumbai, Dec 26 () The rupee erased its early gains to settle down by 4 paise at a three-week low of 71.31 against the US currency on Thursday, marking its fifth straight day of losses amid heavy selling in domestic equities and steady rise in crude oil prices.
 Month-end dollar demand and weakness in domestic equities weighed on the domestic currency, forex traders said.
 At the interbank foreign exchange market, the rupee had opened higher at 71.26 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.22 and a low of 71.35.
 The rupee finally settled at 71.31 against the US dollar, lower by 4 paise over its previous close of 71.27 on Tuesday. The rupee has weakened by around half a percentage point or 34 paise since Thursday last due to strengthening crude oil prices on easing trade worries. Forex outflows and a stronger dollar have also hit the domestic unit.
 Forex market was closed on Wednesday on account of the Christmas holiday.
 "Volatility in the next couple of sessions could remain low as major global markets would remain shut on account of Christmas holidays. No important economic data releases could keep the momentum low for major crosses as well," said Gaurang Somaiyaa, Forex &amp; Bullion Analyst, Motilal Oswal Financial Services.
 A steady rise in crude oil prices, heavy selling in domestic equities, foreign fund outflows and strengthening of the American currency vis-a-vis other currencies overseas also weighed on the local unit, analysts said.
 "Rupee is weak as higher crude prices are keeping the worried importers on buy-side of the USDINR pair," said Jateen Trivedi, Senior Research Analyst (Commodity &amp; Currency) at LKP Securities.
 Brent futures rose 0.42 per cent to USD 67.48 per barrel.
 Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.07 per cent to 97.70.
 "Indian rupee depreciates on month-end dollar demand from importers. Rupee fell for the fifth day in a trot amid higher crude and stronger dollar against Asian currencies. Globally, the trading volumes remained light on back of year-end holidays," said V K Sharma, Head - PCG &amp; Capital Market Strategy, HDFC securities.
 Sharma further said that the weakness in the rupee may continue in coming days on year-end adjustment by foreign institutions.
 On the domestic market front, the 30-share BSE Sensex ended 297.50 points, or 0.72 per cent, lower at 41,163.76. The broader NSE Nifty closed 88 points, or 0.72 per cent, down at 12,126.55.
 Foreign institutional investors (FIIs) remained net sellers in equities, as they sold shares worth Rs 504 crore on a net basis on Thursday, according to provisional exchange data.
 The 10-year government bond yield was at 6.58 per cent.
 The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.1959 and for rupee/euro at 78.9487. The reference rate for rupee/British pound was fixed at 92.1522 and for rupee/100 Japanese yen at 65.07. DRR MR
MR

Rupee extends losses for 5th day, ends at 3-week low as high crude oil takes toll

Mumbai, Feb 26 () The Indian rupee settled for the day higher by 20 paise at 71.65 (provisional) against the US dollar on Wednesday in line with other Asian currencies, helped by lower crude oil prices.At the interbank foreign exchange market, the local currency opened at 71.76 to the US dollar. During the day, the local unit saw a high of 71.59 and a low of 71.79. The domestic unit finally settled at 71.65, up 20 paise from its previous close.The rupee had settled at 71.85 against the US dollar on Tuesday."The rupee opened on a flat note and witnessed volatility after the RBI, yesterday, announced two long-term repo operations (LTROs) for three-year tenors worth Rs 25,000 crore each to be conducted on March 2 and March 9," said Gaurang Somaiyaa, Forex &amp; Bullion Analyst, Motilal Oswal Financial Services.Also, forex traders said, easing crude oil prices supported the local unit.The global crude benchmark Brent futures fell 1.40 per cent to trade at USD 54.18 per barrel. "Indian rupee, in line with other Asian currencies, gained amid lower dollar index and crude oil prices," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities. DRRMKJ

Rupee gains 20 paise to settle at 71.65 against US dollar

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

Mumbai, The rupee settled on a flat note with a loss of just 1 paisa at 83.04 (provisional) against the dollar on Thursday on the back of strengthening American currency and sharp rise in crude oil prices. The domestic currency broke its six-day gaining streak despite positive equity market sentiment, as foreign funds outflow dented sentiments. At the interbank foreign exchange market, the local unit opened at 83.05 and traded between the peak of 82.93 and the lowest level of 83.08 against the greenback during the intra-day deals. It finally settled at 83.04 (provisional) against the dollar, down by just 1 paisa over its previous closing level. "The Indian rupee is trading flat. It opened on a positive note on weak Dollar and positive domestic markets. However, it lost its initial gains on some FII outflows and a slight recovery in crude oil prices. The <keyword id="19949640" type="General" weightage="20" keywordseo="us-dollar" source="keywords">US dollar</keyword> declined on Wednesday as traders trimmed their positions ahead of inflation data," Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. Investors are awaiting US inflation data to be released later in the day for further cues, forex analysts said, adding that traders will also closely monitor the domestic inflation numbers to be released on Friday. "We expect the rupee to trade with a slight positive bias on the soft US Dollar and positive Asian currencies. However, recent FII outflows and recovery in crude oil prices may cap sharp gains. "Concerns over global economic slowdown and the ongoing geopolitical tensions in the Red Sea and Middle East may also weigh on Rupee. Investors may remain cautious ahead of inflation data US and CPI and IIP data from and India on Friday. USDINR spot price is expected to trade in a range of Rs 82.70 to Rs 83.30," Choudhary said. The domestic currency had gained 10 paise on Wednesday. The rupee has witnessed a cumulative gain of 29 paise in the previous six sessions since the level of 83.32 versus dollar recorded on January 2. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 102.14 on Thursday. Brent crude futures, the global oil benchmark, surged 1.67 per cent to USD 78.08 per barrel. On the domestic equity market front, Sensex rose 63.47 points, or 0.09 per cent, to settle at 71,721.18 points. The Nifty advanced 28.50 points, or 0.13 per cent, to 21,647.20 points. Foreign institutional investors (FIIs) sold shares worth Rs 1,721.35 crore on Wednesday, according to exchange data.

Crude shock: Rupee falls 1 paisa to close at 83.04 against dollar

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 6 paise to close at 83.31 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Tuesday following a weak greenback against major currencies overseas and softening <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> in international markets. However, a sluggish trend in the domestic equity markets restricted the sharp upside in the local currency, forex traders said. At the interbank <keyword id="136565" type="General" weightage="20" keywordseo="foreign-exchange-market" source="Orion">foreign exchange market</keyword>, the local unit opened strong at 83.32 and touched an intraday high of 83.26 and a low of 83.36. The domestic unit finally settled at 83.31 (provisional), a gain of 6 paise from its previous close. On Friday, the rupee had settled at 83.37 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword>. The <keyword id="21021209" type="General" weightage="20" keywordseo="forex-market" source="keywords">forex market</keyword> was closed on Monday on account of general elections. "A decline in <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> prices and fresh foreign inflows also supported the rupee. US Dollar softened on rate cut expectations by Fed but hawkish comments by Fed officials supported the US dollar at lower levels," Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, said. On the domestic equity market front, the 30-share BSE Sensex fell 52.63 points or 0.07 per cent to settle at 73,953.31, while the broader NSE Nifty rose 27.05 points or 0.12 per cent to 22,529.05. "The rupee traded positively. This strength is attributed to predictions of the current government winning the general election, leading to increased stability. "Additionally, Domestic Institutional Investors (DIIs) have been actively buying into capital markets. Soft crude prices and a stable dollar index also supported the rupee. The expected range for the rupee in the upcoming sessions is between 83.00 and 83.50," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Saturday, as they sold shares worth Rs 92.95 crore, according to exchange data. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 104.38. Brent crude futures, the global oil benchmark, declined 0.97 per cent to USD 82.90 per barrel.

Rupee rises 6 paise against US dollar as crude oil prices ease

The Indian rupee opened on a cautious note and fell 11 paise to 71.33 against the US dollar in early trade on Thursday amid sustained rise in crude oil prices and foreign fund outflows.
 Forex traders said the rupee is trading in a narrow range amid lack of directional cues from the global market.
 At the interbank foreign exchange, the rupee opened at 71.27 then fell to 71.33 against the dollar, showing a decline of 11 paise over its previous closing.
 The Indian rupee on Wednesday had closed at 71.22 against the dollar.
 Traders said rise in crude oil prices weighed on the domestic unit, while sustained positive opening in domestic equities supported the rupee and restricted the fall.
 Meanwhile, brent crude futures, the global oil benchmark, rose by 0.30 per cent to USD 66.20 per barrel.
 Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth Rs 58.87 crore on Wednesday, as per provisional data.
 Domestic bourses opened on a positive note on Thursday with benchmark indices Sensex trading 90.10 points up at 41,396.12 and Nifty higher by 34 points at 12,216.50.
 The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 to 96.54.
 The 10-year government bond yield was at 6.50 in morning trade. DRR DRR

Rupee slips to 71.33 against US dollar amid rising oil prices and foreign fund outflows

The <keyword id="6355302" type="General" weightage="20" keywordseo="Rupee" source="Orion">rupee</keyword> slid to the psychologically low level of 80 in intra day trade before settling down by 15 paise at 79.97 (provisional) against the US currency on Monday due to a surge in crude oil prices and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.76 against the greenback but later lost ground to touch the psychological low mark of 80.00 against the American currency. The local unit recovered some lost ground and closed at 79.97 (provisional), registering a fall of 15 paise over its previous close. The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency. "<keyword id="91748" type="General" weightage="20" keywordseo="indian-rupee" source="Orion">Indian rupee</keyword>, opened in the green on strength in domestic equity markets and a weak US Dollar. However, rupee weakened in the latter half of the day on surge in crude oil prices and selling pressure by FIIs. FII outflows rose to Rs 1,649 crores on Friday," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Choudhary further said that the rupee is likely to trade with a positive bias of rise in risk appetite in global markets and weakness in US Dollar. Improved global risk sentiments may also support the rupee. "However, pullback in crude oil prices and continued selling pressure by FIIs my cap sharp gains in the rupee. USDINR spot price is expected to trade in a range of Rs 79.20 to Rs 80.80 in next couple of sessions," Choudhary said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.50 per cent down at 107.52. Brent crude futures, the global oil benchmark, jumped 2.06 per cent to USD 103.24 per barrel. On the domestic equity market front, the <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> Sensex ended 760.37 points or 1.41 per cent higher at 54,521.15, while the broader NSE Nifty climbed 229.30 points or 1.43 per cent to 16,278.50. Foreign institutional investors remained net sellers in the capital market on Friday, offloading shares worth Rs 1,649.36 crore, as per exchange data. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/opinion-fostering-sustainable-leadership-in-businesses-to-ensure-better-corporate-governance/articleshow/92948831.cms">OPINION: Fostering sustainable leadership in businesses to ensure better corporate governance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/27-trains-diverted-after-goods-train-derails-near-mangal-mahudi-in-gujarat/articleshow/92950242.cms">27 trains diverted after goods train derails near Mangal Mahudi in Gujarat</a>

Rupee settles at 79.97 against US dollar; briefly touches 80/USD mark

The Indian <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> is expected to trade in the 79.25-79.75 per US dollar range in the coming days due to easing <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> prices and continued inflows by foreign investors, the <keyword id="6358007" type="General" weightage="80" keywordseo="bank-of-baroda" source="Orion">Bank of Baroda</keyword> said in a research report. "The global oil price has come down to less than the $100-mark which is good news, as it will automatically lower the trade deficit, besides potential inflationary pressures. Going forward, we may expect the rupee to trade in the Rs 79.25-79.75/$ range," the report said. The report also said that the Ukraine war, though largely unresolved, has probably played out the darker side with the global economy adjusting to the supply dynamics. The shock has been absorbed in a period of six months, it said. "Taiwan did ring a scare, but seems to be behind us now. The focus will be on what global central banks do in the coming months and though the direction is clear and a slowdown imminent, the approach will provide further clues to the currency markets," the report said. The Indian rupee remained volatile for the last two months, touching record lows at times, but recovered from that since start of this month, thanks to the foreign investors who returned to the equity market after nearly nine months. "The Indian story was largely driven by <keyword id="725142" type="General" weightage="80" keywordseo="fpi" source="Orion">FPI</keyword> movements, which turned positive for equity on all days while aggregating positive for debt over this period. Hence the net inflows were positive which made up for the shortfall on trade which was impacted with imports rising faster than exports," the report said. Experts believe that foreign investors have returned to Indian markets because the country is a preferred destination as it has best growth prospects among the large economies of the world. FPIs have turned net buyers in autos, capital goods, <keyword id="34523" type="General" weightage="80" keywordseo="fmcg" source="Orion">FMCG</keyword>, and telecom. The dollar had come close to the parity level and the question asked was whether this level would be broken. Intuitively the <keyword id="45672" type="General" weightage="80" keywordseo="fed" source="Orion">Fed</keyword> hardening interest rates to slow down the economy automatically reduces the strength of the dollar and this has lent a hand to other currencies, the report added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/top-5-automatic-cars-under-10-lakh-in-india/slidelist/93641635.cms#slideid=93641795">Top 5 automatic cars under ₹10 lakh in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/iit-bombay-and-jsw-group-to-establish-a-technology-hub-for-steel-manufacturing/articleshow/93642574.cms">IIT Bombay and JSW Group to establish a technology hub for steel manufacturing</a>

Rupee expected to trade at around 79/$ on FII inflows, easing crude prices: BoB

Mumbai, Nov 15 () The rupee appreciated by 18 paise to close at 71.78 against the American currency on Friday, extending gains for a second day on the back of easing crude oil prices and positive trends in equity markets.
 At the interbank foreign exchange market, the rupee opened at 71.80 against the US dollar. It fluctuated between a high of 71.68 and a low of 71.87 in day trade. On Thursday, the rupee had closed at 71.96 against the American currency.
 On a weekly basis, the local unit lost 50 paise.
 "Rupee has been retracing its losses for last two sessions. From the low of 72.25 registered on November 14, the rupee has retraced back to 71.80 levels. However, we believe that primary trend of the rupee is bearish and it is likely to find resistance around 71.50 odd levels," said V K Sharma, Head - PCG &amp; Capital Market Strategy, HDFC Securities.
 Sharma further said Brent crude has been finding resistance at 63 odd levels that has supported the rupee up to some extent, while the Dollar Index was mostly flat amid a lull in news ahead of more US economic data later in the day.
 Brent crude, the global oil benchmark, eased 0.66 per cent to USD 61.87 per barrel in futures trade.
 The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.03 per cent to 98.13.
 Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 562.05 crore on Thursday, provisional exchange data showed.
 The 10-year government bond yield was at 6.52 per cent.
 On the domestic markets front, after rallying over 363 points during the day, the 30-share Sensex ended 70.21 points, or 0.17 per cent, higher at 40,356.69. Similarly, the broader NSE Nifty rose 23.35 points, or 0.20 per cent, to end at 11,895.45.
 The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 72.0501 and for rupee/euro at 79.2359. The reference rate for rupee/British pound was fixed at 92.4273 and for rupee/100 Japanese yen at 66.28. DRR MR
MR

Rupee extends gains for 2nd day, rises 18 paise to 71.78 vs USD

The <keyword id="6355302" type="UNKNOWN" weightage="20" keywordseo="Rupee">rupee</keyword> opened on a cautious note and fell 28 paise to 71.88 against the US dollar in early trade on Tuesday amid rising demand for the US dollar vis-a-vis other currencies overseas. Forex traders said the drone attacks on <keyword id="50996" type="LOCATION" weightage="20" keywordseo="Saudi-Arabia">Saudi Arabia</keyword>'s oil facilities have enthused demand for safe heaven assets like the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 98.61. The Indian rupee on Monday had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring <keyword id="148824" type="PERSON" weightage="20" keywordseo="crude-prices">crude prices</keyword> following drone attacks on Saudi Arabia's oil facilities. At the Interbank Foreign Exchange, the rupee opened at 71.83 then fell to 71.88 against the US dollar, showing a decline of 28 paise over its previous closing. The Indian rupee on Monday had closed at 71.60 against the US dollar. Forex traders said weak opening in domestic equities and unabated foreign fund outflows also weighed on the domestic currency. Domestic bourses opened on a negative note on Tuesday with benchmark indices Sensex trading 137.87 points down at 36,985.44 and Nifty lower by 38.85 points at 10,964.65. Foreign institutional investors (FIIs), who were net buyers for the past few sessions, offloaded shares worth Rs 751.26 crore on Monday, according to provisional exchange data. "The recent attack on Saudi Arabia's largest oil processing plant has sent oil prices shooting up. If production is not resumed soon, such a rise could hurt the global economy as consumer costs will also go up. This will definitely affect India, where the economy is already stressed," said Pushkar Mukewar, Co-Founder and Co-CEO of Drip Capital, a US &amp; India based trade finance firm. Mukewar further said that the rupee is likely to remain volatile. Crude oil benchmark, Brent Futures, surged by almost 20 per cent to USD 71.95 per barrel (intra-day) on Monday after twin drone attacks on Saturday wiped out more than half of Saudi Arabia's crude supply. However, Brent Futures on Tuesday saw some moderation and was trading at USD 68.35 per barrel, down 0.97 per cent over the previous close. The 10-year <keyword id="122420" type="PERSON" weightage="20" keywordseo="government-bond">government bond</keyword> yield was at 6.71 per cent in morning trade. Meanwhile on the global front, a Chinese vice finance minister will visit the United States on Wednesday to lay the groundwork for trade talks next month. The official Xinhua news agency said vice finance minister Liao Min will lead a delegation visiting the United States on Wednesday to "pave the way" for the higher level talks. DRR DRR

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