Rupee edges lower by 4 paise to 7368 against US dollar
Mumbai Sep 24 PTI The Indian rupee slipped by 4 paise to close at 7368 against the US dollar on Friday following weaker Asian peers against the American currency At the interbank foreign exchange market the local currency opened at 7377 It touched an intra-day high of 7361 and a low of 7378 during the day The rupee finally settled at 7368 against the American currency down 4 paise over its previous close On a weekly basis the rupee depreciated 20 paise against the American currency The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 006 per cent higher at 9314 The Indian rupee depreciated following weakness in Asian peers and rebound in dollar after risk-off moods Markets appear to have taken the decision of Federal Open Market Committee FOMC as hawkish as Treasuries moved higher while risk assets seen long unwinding said Dilip Parmar Research Analyst HDFC Securities According to Sriram Iyer Senior Research Analyst at Reliance Securities The Indian rupee depreciated against the US dollar on Friday on worries over China Evergrande Groups debt crisis impact For the week the local unit weakened by 03 per cent against the dollar amid weak risk appetite and as long-term US yields moved above 14 per cent on anticipation of withdrawal of policy support Iyer said adding that constant inflows from equities ensured that a sharp selloff was contained this week Brent crude futures the global oil benchmark advanced 025 per cent to USD 7744 per barrel On the domestic equity market front the BSE Sensex ended 16311 points or 027 per cent higher at a life-time high of 6004847 Similarly the broader NSE Nifty advanced 3025 points or 017 per cent to close at a record 1785320 PTI DRR MKJ
Mumbai Sep 24 PTI The Indian rupee slipped by 4 paise to close at 7368 against the US dollar on Friday following weaker Asian peers against the American currency At the interbank foreign exchange market the local currency opened at 7377 It touched an intra-day high of 7361 and a low of 7378 during the day The rupee finally settled at 7368 against the American currency down 4 paise over its previous close On a weekly basis the rupee depreciated 20 paise against the American currency The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 006 per cent higher at 9314 The Indian rupee depreciated following weakness in Asian peers and rebound in dollar after risk-off moods Markets appear to have taken the decision of Federal Open Market Committee FOMC as hawkish as Treasuries moved higher while risk assets seen long unwinding said Dilip Parmar Research Analyst HDFC Securities According to Sriram Iyer Senior Research Analyst at Reliance Securities The Indian rupee depreciated against the US dollar on Friday on worries over China Evergrande Groups debt crisis impact For the week the local unit weakened by 03 per cent against the dollar amid weak risk appetite and as long-term US yields moved above 14 per cent on anticipation of withdrawal of policy support Iyer said adding that constant inflows from equities ensured that a sharp selloff was contained this week Brent crude futures the global oil benchmark advanced 025 per cent to USD 7744 per barrel On the domestic equity market front the BSE Sensex ended 16311 points or 027 per cent higher at a life-time high of 6004847 Similarly the broader NSE Nifty advanced 3025 points or 017 per cent to close at a record 1785320 PTI DRR MKJ
