Rupee rebounds 34 paise to close at 7526 against US dollar
Mumbai Feb 25 PTI The rupee appreciated by 34 paise to close at 7526 provisional against the US dollar on Friday in line with regional currencies following a retreat in crude oil prices and a rebound in domestic equities At the interbank forex market the local unit opened at 7531 against the greenback and witnessed an intra-day high of 7518 and a low of 7546 The rupee finally ended at 7526 registering a gain of 34 paise over its previous close On Thursday the rupee had tanked 99 paise to close at 7560 against the US dollar as riskier assets took a hit after Russia launched military operations against Ukraine Meanwhile European Union leaders are putting up a united front and agreed on a second package of economic and financial sanctions against Russia The dollar index which measures the greenbacks strength against a basket of six currencies inched up 001 per cent to 9714 Brent crude futures the global oil benchmark were trading 107 per cent higher at USD 10014 per barrel Calmness returned to forex markets as participants assessed the fallout of Russias invasion of Ukraine and focused shifted back to Federal Reserve Weaker-than-expected US sanctions on Russia supported market sentiment said Dilip Parmar Research Analyst HDFC Securities Rupee in line with regional currencies gained following a retreat in crude oil prices from an eight-year high along with rebound in domestic equities However the bias for spot USD-INR remains bullish as long as it holds 7480 while on the higher side 7575 becomes the biggest hurdle Parmar said On the domestic equity market front the BSE Sensex ended 132861 points or 244 per cent higher at 5585852 while the broader NSE Nifty surged 41045 points or 253 per cent to 1665840 Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 644824 crore as per stock exchange data PTI DRR ABM ABM
Mumbai Feb 25 PTI The rupee appreciated by 34 paise to close at 7526 provisional against the US dollar on Friday in line with regional currencies following a retreat in crude oil prices and a rebound in domestic equities At the interbank forex market the local unit opened at 7531 against the greenback and witnessed an intra-day high of 7518 and a low of 7546 The rupee finally ended at 7526 registering a gain of 34 paise over its previous close On Thursday the rupee had tanked 99 paise to close at 7560 against the US dollar as riskier assets took a hit after Russia launched military operations against Ukraine Meanwhile European Union leaders are putting up a united front and agreed on a second package of economic and financial sanctions against Russia The dollar index which measures the greenbacks strength against a basket of six currencies inched up 001 per cent to 9714 Brent crude futures the global oil benchmark were trading 107 per cent higher at USD 10014 per barrel Calmness returned to forex markets as participants assessed the fallout of Russias invasion of Ukraine and focused shifted back to Federal Reserve Weaker-than-expected US sanctions on Russia supported market sentiment said Dilip Parmar Research Analyst HDFC Securities Rupee in line with regional currencies gained following a retreat in crude oil prices from an eight-year high along with rebound in domestic equities However the bias for spot USD-INR remains bullish as long as it holds 7480 while on the higher side 7575 becomes the biggest hurdle Parmar said On the domestic equity market front the BSE Sensex ended 132861 points or 244 per cent higher at 5585852 while the broader NSE Nifty surged 41045 points or 253 per cent to 1665840 Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 644824 crore as per stock exchange data PTI DRR ABM ABM
