Rupee pares losses to settle flat at 7618 against US dollar
Mumbai Mar 22 PTI The rupee pared its initial losses to settle flat at 7618 provisional against the American currency on Tuesday tracking a positive trend in domestic equitiesAt the interbank foreign exchange the rupee opened sharply lower at 7639 against the US dollar However it recovered all its losses to closed at 7618During the day the local unit witnessed heavy volatility amid concerns over global oil supplies and saw an intra-day high of 7610 and a low of 7648On Monday the rupee slumped 34 paise to close at 7618 against the US dollarExperts believe the volatility will persist till the war situation between Russia and Ukraine and crude price stabiliseGlobal oil benchmark Brent crude futures fell 150 per cent to USD 11318 per barrelMeanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies rose 025 per cent to 9874On the domestic equity market front the 30-share Sensex ended 69681 points or 122 per cent higher at 5798930 while the broader NSE Nifty advanced 19790 points or 116 per cent to 1731550Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 296212 crore according to stock exchange data PTI DRR DRR BAL BAL
Mumbai Mar 22 PTI The rupee pared its initial losses to settle flat at 7618 provisional against the American currency on Tuesday tracking a positive trend in domestic equitiesAt the interbank foreign exchange the rupee opened sharply lower at 7639 against the US dollar However it recovered all its losses to closed at 7618During the day the local unit witnessed heavy volatility amid concerns over global oil supplies and saw an intra-day high of 7610 and a low of 7648On Monday the rupee slumped 34 paise to close at 7618 against the US dollarExperts believe the volatility will persist till the war situation between Russia and Ukraine and crude price stabiliseGlobal oil benchmark Brent crude futures fell 150 per cent to USD 11318 per barrelMeanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies rose 025 per cent to 9874On the domestic equity market front the 30-share Sensex ended 69681 points or 122 per cent higher at 5798930 while the broader NSE Nifty advanced 19790 points or 116 per cent to 1731550Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 296212 crore according to stock exchange data PTI DRR DRR BAL BAL
