Rupee inches 4 paise higher to 7325 against US dollar in early trade
Mumbai Aug 31 PTI The Indian rupee appreciated 4 paise to 7325 against the US dollar in opening trade on Tuesday tracking a positive trend in domestic equities At the interbank foreign exchange the rupee opened at 7326 against the dollar then inched higher to 7325 up 4 paise over its previous close On Monday the rupee had settled at 7329 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was down 012 per cent at 9254 A strong rally in the domestic equity markets and a weak American currency in the overseas markets also supported the rupee sentiment According to Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors the rupee which has appreciated nearly 100 paise since Friday has been gaining on bountiful corporate inflows RBI has been present intermittently and equity inflows have also been aiding the rupee after FED rhetoric on Friday he added The US Fed chief Jerome Powells speech at Jackson Hole Symposium was dovish and expressed hope that the Fed will keep supporting the market with low interest rates traders said Global oil benchmark Brent crude futures fell 048 per cent to USD 7306 per barrel On the domestic equity market front BSE Sensex was trading 8709 points or 015 per cent higher at 5697685 while the broader NSE Nifty advanced 2155 points or 013 per cent to 1695260 Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth Rs 120281 crore as per exchange data PTI DRR ANS ANS
Mumbai Aug 31 PTI The Indian rupee appreciated 4 paise to 7325 against the US dollar in opening trade on Tuesday tracking a positive trend in domestic equities At the interbank foreign exchange the rupee opened at 7326 against the dollar then inched higher to 7325 up 4 paise over its previous close On Monday the rupee had settled at 7329 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was down 012 per cent at 9254 A strong rally in the domestic equity markets and a weak American currency in the overseas markets also supported the rupee sentiment According to Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors the rupee which has appreciated nearly 100 paise since Friday has been gaining on bountiful corporate inflows RBI has been present intermittently and equity inflows have also been aiding the rupee after FED rhetoric on Friday he added The US Fed chief Jerome Powells speech at Jackson Hole Symposium was dovish and expressed hope that the Fed will keep supporting the market with low interest rates traders said Global oil benchmark Brent crude futures fell 048 per cent to USD 7306 per barrel On the domestic equity market front BSE Sensex was trading 8709 points or 015 per cent higher at 5697685 while the broader NSE Nifty advanced 2155 points or 013 per cent to 1695260 Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth Rs 120281 crore as per exchange data PTI DRR ANS ANS
