Rupee surges 29 paise to close at 7621 against US dollar
Mumbai Apr 20 PTI The rupee appreciated 29 paise to settle at 7621 provisional against the US dollar on Wednesday tracking positive domestic equities and some moderation in crude oil prices At the interbank forex market the domestic unit opened at 7641 against the US dollar and touched an intra-day high of 7616 and finally closed at 7621 registering a rise of 29 paise over its previous close On Tuesday the rupee had dropped 21 paise to close at 7650 The rupee is currently trading slightly higher today on overnight decline in crude oil prices and positive domestic equity markets Softer US Dollar is also supporting rupee said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Singh further said We expect Indian Rupee to decline again from higher levels as overall sentiments remain negative for Rupee Geopolitical tensions due to tensions between Russia and Ukraine may again put downside pressure on the Rupee Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 060 per cent lower at 10035 The US Dollar is also expected to recover from lower levels as hawkish Federal Reserve and elevated US bond yields may continue to support the greenback Singh said On the domestic equity market front the 30-share BSE Sensex ended 57435 points or 102 per cent higher at 5703750 while the broader NSE Nifty surged 17790 points or 105 per cent to 1713655 Brent crude futures the global oil benchmark inched up 076 per cent to USD 10806 per barrel Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 587169 crore as per stock exchange data PTI DRR DRR ABM ABM
Mumbai Apr 20 PTI The rupee appreciated 29 paise to settle at 7621 provisional against the US dollar on Wednesday tracking positive domestic equities and some moderation in crude oil prices At the interbank forex market the domestic unit opened at 7641 against the US dollar and touched an intra-day high of 7616 and finally closed at 7621 registering a rise of 29 paise over its previous close On Tuesday the rupee had dropped 21 paise to close at 7650 The rupee is currently trading slightly higher today on overnight decline in crude oil prices and positive domestic equity markets Softer US Dollar is also supporting rupee said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Singh further said We expect Indian Rupee to decline again from higher levels as overall sentiments remain negative for Rupee Geopolitical tensions due to tensions between Russia and Ukraine may again put downside pressure on the Rupee Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 060 per cent lower at 10035 The US Dollar is also expected to recover from lower levels as hawkish Federal Reserve and elevated US bond yields may continue to support the greenback Singh said On the domestic equity market front the 30-share BSE Sensex ended 57435 points or 102 per cent higher at 5703750 while the broader NSE Nifty surged 17790 points or 105 per cent to 1713655 Brent crude futures the global oil benchmark inched up 076 per cent to USD 10806 per barrel Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 587169 crore as per stock exchange data PTI DRR DRR ABM ABM
