Rupee snaps 3-day losing streak settles 14 paise higher at 7444 against USD
Mumbai Jan 19 PTI The rupee snapped its 3-day losing streak to settle 14 paise higher at 7444 provisional against the US dollar on Wednesday tracking positive regional peers even as the domestic equity market settled with significant lossesAt the interbank foreign exchange market the rupee opened lower at 7470 a dollar registering a decline of 12 paise from the last close During the day it pared losses and witnessed an intra-day high of 7432The domestic unit finally settled at 7444 provisional against the American currency up 14 paise over its last closeOn Tuesday the rupee slumped by 33 paise to close at a two-week low of 7458 against the US dollarThe Indian rupee gained the most in a week following stronger regional currencies Domestic bond markets saw a recovery on suspected intervention by the central bank which helped in rupee recovery said Dilip Parmar Research Analyst HDFC SecuritiesAlso the relentless selling of dollars from corporates caused speculative unwinding of positions Parmar saidSpot USDINR is expected to consolidate within the 7425 to 7480 band in the coming days he addedMeanwhile the US dollar index which measures the greenbacks strength against the basket of six currencies fell 011 per cent to 9562Brent crude futures the global oil benchmark jumped 094 per cent to USD 8833 per barrelForeign institutional investors remained net sellers in the capital market on Tuesday as they offloaded shares worth Rs 125495 crore as per stock exchange dataOn the domestic equity market front the BSE Sensex ended 65604 points or 108 per cent lower at 6009882 while the broader NSE Nifty declined 17465 points or 096 per cent to 1793840 PTI DRR BAL BAL
Mumbai Jan 19 PTI The rupee snapped its 3-day losing streak to settle 14 paise higher at 7444 provisional against the US dollar on Wednesday tracking positive regional peers even as the domestic equity market settled with significant lossesAt the interbank foreign exchange market the rupee opened lower at 7470 a dollar registering a decline of 12 paise from the last close During the day it pared losses and witnessed an intra-day high of 7432The domestic unit finally settled at 7444 provisional against the American currency up 14 paise over its last closeOn Tuesday the rupee slumped by 33 paise to close at a two-week low of 7458 against the US dollarThe Indian rupee gained the most in a week following stronger regional currencies Domestic bond markets saw a recovery on suspected intervention by the central bank which helped in rupee recovery said Dilip Parmar Research Analyst HDFC SecuritiesAlso the relentless selling of dollars from corporates caused speculative unwinding of positions Parmar saidSpot USDINR is expected to consolidate within the 7425 to 7480 band in the coming days he addedMeanwhile the US dollar index which measures the greenbacks strength against the basket of six currencies fell 011 per cent to 9562Brent crude futures the global oil benchmark jumped 094 per cent to USD 8833 per barrelForeign institutional investors remained net sellers in the capital market on Tuesday as they offloaded shares worth Rs 125495 crore as per stock exchange dataOn the domestic equity market front the BSE Sensex ended 65604 points or 108 per cent lower at 6009882 while the broader NSE Nifty declined 17465 points or 096 per cent to 1793840 PTI DRR BAL BAL
