Rupee rebounds 23 paise to close at 7364 against US dollar
Mumbai Sep 23 PTI The rupee on Thursday rebounded by 23 paise to close at 7364 provisional against the US dollar following a firm trend in domestic equities and losses in the American currency in the overseas market At the interbank forex market the local unit opened flat at 7385 against the greenback During the session the domestic unit witnessed an intra-day high of 7361 and finally settled at 7364 On Wednesday the rupee had declined by 26 paise to close at a nearly four-week low of 7387 against the US currency Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies fell 029 per cent to 9319 The Indian rupee erased Wednesdays loss tracking cues from regional currencies and a surge in global equities after the US Federal Reserves meeting Globally risk is looking fairly balanced with two large events of the week FOMC and Evergrande chaos seem to be behind said Dilip Parmar Research Analyst HDFC Securities The rupee expected to stay right following huge foreign fund inflows from recent IPOs and in the bond market Markets have now started positioning for India rating upgrade from global rating agencies Parmar said Brent crude futures the global oil benchmark fell 010 per cent to USD 7611 per barrel On the domestic equity market front the BSE Sensex ended 95803 points or 163 per cent higher at 5988536 while the broader NSE Nifty advanced 27630 points or 157 per cent to 1782295 Meanwhile foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 194326 crore as per exchange data PTI DRR MKJ
Mumbai Sep 23 PTI The rupee on Thursday rebounded by 23 paise to close at 7364 provisional against the US dollar following a firm trend in domestic equities and losses in the American currency in the overseas market At the interbank forex market the local unit opened flat at 7385 against the greenback During the session the domestic unit witnessed an intra-day high of 7361 and finally settled at 7364 On Wednesday the rupee had declined by 26 paise to close at a nearly four-week low of 7387 against the US currency Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies fell 029 per cent to 9319 The Indian rupee erased Wednesdays loss tracking cues from regional currencies and a surge in global equities after the US Federal Reserves meeting Globally risk is looking fairly balanced with two large events of the week FOMC and Evergrande chaos seem to be behind said Dilip Parmar Research Analyst HDFC Securities The rupee expected to stay right following huge foreign fund inflows from recent IPOs and in the bond market Markets have now started positioning for India rating upgrade from global rating agencies Parmar said Brent crude futures the global oil benchmark fell 010 per cent to USD 7611 per barrel On the domestic equity market front the BSE Sensex ended 95803 points or 163 per cent higher at 5988536 while the broader NSE Nifty advanced 27630 points or 157 per cent to 1782295 Meanwhile foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 194326 crore as per exchange data PTI DRR MKJ
