Rupee logs best day in 12 weeks soars 42 paise against USD
Mumbai Jan 31 PTI The Indian rupee on Monday clocked its biggest single-day rise in 12 weeks by surging 42 paise at 7465 against the US dollar in line with positive regional currencies and buoyant domestic equities At the interbank forex market the local unit opened strong at 7497 against the greenback and witnessed an intra-day high of 7460 and a low of 7505 It finally settled at 7465 a rise of 42 paise over its previous close In the previous session the rupee had settled at 7507 against the US dollar Meanwhile Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey 2021-22 As per the pre-Budget Economic Survey Indias economy is expected to grow by 8-85 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage supply-side reforms and easing of regulations The Indian rupee appreciated in line with regional currencies as risk sentiments recovered Domestic benchmark index Sensex rose more than a percentage said Dilip Parmar Research Analyst HDFC Securities The market is currently pricing in foreign inflows from the inclusion of Indian sovereign in the global bond index Though surging oil prices add to worries over inflation and could change the fiscal maths in Tuesdays Union Budget announcement Parmar said USDINR is expected to trade volatile within the range of 7430 to 7550 in the coming days Parmar noted This is the second straight session of gain for the local unit during which it has added 47 paise against the American currency On the domestic equity market front the BSE Sensex ended 81394 points or 142 per cent higher at 5801417 while the broader NSE Nifty jumped 23790 points or 139 per cent to 1733985 Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies fell 027 per cent to 9700 Brent crude futures the global oil benchmark was trading 087 per cent higher at USD 9081 per barrel Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 504534 crore as per stock exchange data PTI DRR MKJ
Mumbai Jan 31 PTI The Indian rupee on Monday clocked its biggest single-day rise in 12 weeks by surging 42 paise at 7465 against the US dollar in line with positive regional currencies and buoyant domestic equities At the interbank forex market the local unit opened strong at 7497 against the greenback and witnessed an intra-day high of 7460 and a low of 7505 It finally settled at 7465 a rise of 42 paise over its previous close In the previous session the rupee had settled at 7507 against the US dollar Meanwhile Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey 2021-22 As per the pre-Budget Economic Survey Indias economy is expected to grow by 8-85 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage supply-side reforms and easing of regulations The Indian rupee appreciated in line with regional currencies as risk sentiments recovered Domestic benchmark index Sensex rose more than a percentage said Dilip Parmar Research Analyst HDFC Securities The market is currently pricing in foreign inflows from the inclusion of Indian sovereign in the global bond index Though surging oil prices add to worries over inflation and could change the fiscal maths in Tuesdays Union Budget announcement Parmar said USDINR is expected to trade volatile within the range of 7430 to 7550 in the coming days Parmar noted This is the second straight session of gain for the local unit during which it has added 47 paise against the American currency On the domestic equity market front the BSE Sensex ended 81394 points or 142 per cent higher at 5801417 while the broader NSE Nifty jumped 23790 points or 139 per cent to 1733985 Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies fell 027 per cent to 9700 Brent crude futures the global oil benchmark was trading 087 per cent higher at USD 9081 per barrel Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 504534 crore as per stock exchange data PTI DRR MKJ
