Rupee settles 14 paise down at 7632 against US dollar
Mumbai Mar 23 PTI The rupee pared initial gains to settle 14 paise lower at 7632 provisional against the US dollar on Wednesday due to month-end dollar demand from importers and rising crude prices amid geopolitical uncertaintiesAt the interbank foreign exchange market the rupee opened strong at 7608 against the American currency but could not hold the momentum and entered negative territory during the sessionThe domestic unit finally settled at 7632 against the greenback down 14 paise from the previous closeOn Tuesday the rupee had settled flat at 7618 against the American currencyIndian rupee depreciated for the third day in a row following dollar demands from importers ahead of the month and financial year-end and rebound in crude oil prices said Dilip Parmar Research Analyst HDFC SecuritiesParmar further added that global financial markets have been searching for clear direction on the back of ongoing geopolitical uncertainties The US Feds hawkish bet has been supporting gain in the dollarThe dollar index which gauges the greenbacks strength against a basket of six currencies was trading 014 per cent higher at 9863Global oil benchmark Brent crude futures jumped 216 per cent to USD 11797 per barrelOn the domestic equity market front the 30-share Sensex ended 30448 points or 053 per cent lower at 5768482 while the broader NSE Nifty fell 6985 points or 04 per cent to 1724565Foreign institutional investors emerged as net buyers in the capital market on Tuesday as they purchased shares worth Rs 38448 crore according to stock exchange data PTI DRR DRR BAL BAL
Mumbai Mar 23 PTI The rupee pared initial gains to settle 14 paise lower at 7632 provisional against the US dollar on Wednesday due to month-end dollar demand from importers and rising crude prices amid geopolitical uncertaintiesAt the interbank foreign exchange market the rupee opened strong at 7608 against the American currency but could not hold the momentum and entered negative territory during the sessionThe domestic unit finally settled at 7632 against the greenback down 14 paise from the previous closeOn Tuesday the rupee had settled flat at 7618 against the American currencyIndian rupee depreciated for the third day in a row following dollar demands from importers ahead of the month and financial year-end and rebound in crude oil prices said Dilip Parmar Research Analyst HDFC SecuritiesParmar further added that global financial markets have been searching for clear direction on the back of ongoing geopolitical uncertainties The US Feds hawkish bet has been supporting gain in the dollarThe dollar index which gauges the greenbacks strength against a basket of six currencies was trading 014 per cent higher at 9863Global oil benchmark Brent crude futures jumped 216 per cent to USD 11797 per barrelOn the domestic equity market front the 30-share Sensex ended 30448 points or 053 per cent lower at 5768482 while the broader NSE Nifty fell 6985 points or 04 per cent to 1724565Foreign institutional investors emerged as net buyers in the capital market on Tuesday as they purchased shares worth Rs 38448 crore according to stock exchange data PTI DRR DRR BAL BAL
