Rupee slips 3 paise to close at 7490 against US dollar
Mumbai Oct 22 PTI The rupee weakened by 3 paise to end at 7490 against the US currency on Friday weighed down by a muted trend in domestic equities and firm crude oil prices At the interbank foreign exchange market the local currency opened at 7482 and witnessed an intra-day high of 7469 and a low of 7494 against the US dollar in the day trade The local unit finally settled at 7490 a dollar down 3 paise over its previous close On Thursday the rupee had settled on a flat note at 7487 against the US dollar Brent crude futures the global oil benchmark advanced 043 per cent to USD 8497 per barrel On the domestic equity market front the BSE Sensex ended 10188 points or 017 per cent lower at 6082162 while the broader NSE Nifty declined 6320 points or 035 per cent to 1811490 The Indian rupee traded sideways for another day but manages to buck the trend by gaining on weekly basis as it recovered after four consecutive weekly loss following stronger Asian currencies in particularly Chinese Yuan which is near four months high versus dollar said Dilip Parmar Research Analyst HDFC Securities The rupee expected to trade in range as at one end there could be good dollar inflows from IPOs and QIP while month end dollar demand could be seen from oil marketing companies Parmar added Spot USDINR is expected to consolidate in the range of 7460 to 75 range he said Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 018 per cent down at 9360 Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 281890 crore as per exchange data PTI MKJ
Mumbai Oct 22 PTI The rupee weakened by 3 paise to end at 7490 against the US currency on Friday weighed down by a muted trend in domestic equities and firm crude oil prices At the interbank foreign exchange market the local currency opened at 7482 and witnessed an intra-day high of 7469 and a low of 7494 against the US dollar in the day trade The local unit finally settled at 7490 a dollar down 3 paise over its previous close On Thursday the rupee had settled on a flat note at 7487 against the US dollar Brent crude futures the global oil benchmark advanced 043 per cent to USD 8497 per barrel On the domestic equity market front the BSE Sensex ended 10188 points or 017 per cent lower at 6082162 while the broader NSE Nifty declined 6320 points or 035 per cent to 1811490 The Indian rupee traded sideways for another day but manages to buck the trend by gaining on weekly basis as it recovered after four consecutive weekly loss following stronger Asian currencies in particularly Chinese Yuan which is near four months high versus dollar said Dilip Parmar Research Analyst HDFC Securities The rupee expected to trade in range as at one end there could be good dollar inflows from IPOs and QIP while month end dollar demand could be seen from oil marketing companies Parmar added Spot USDINR is expected to consolidate in the range of 7460 to 75 range he said Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 018 per cent down at 9360 Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 281890 crore as per exchange data PTI MKJ
