Rupee slumps 12 paise to close at 7452 against US dollar
Mumbai Nov 25 PTI The rupee slumped 12 paise to end at 7452 provisional against the US currency on Thursday amid month-end dollar demand and foreign fund outflows from equity and debt markets At the interbank foreign exchange market the local currency opened at 7455 and witnessed a high of 7447 and a low of 7458 against the US dollar The local unit finally settled at 7452 down 12 paise over its previous close On Wednesday the rupee had closed at 7440 Rupee depreciated after two days of consolidation amid month-end dollar demand and foreign fund outflows from equities and debt markets said Dilip Parmar Research Analyst HDFC Securities Lacklustre price actions have been seen in the global forex market following the US holiday while the rupee traded on the backfoot as month-end dollar demand and dollar outflows from equity and debt weighed Parmar said Recovery in risk-on sentiments and series of IPOs lined up in coming months will limit the lower side in the event of stronger dollar index and crude oil prices Spot USD-INR is expected to trade in the range of 74 to 7470 Parmar noted Meanwhile Brent crude futures the global oil benchmark declined by 036 per cent to USD 8195 per barrel On the domestic equity market front the BSE Sensex ended 45410 points or 078 per cent higher at 5879509 while the broader NSE Nifty advanced 12120 points or 07 per cent to 1753625 The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 020 per cent down at 9668 Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 512265 crore as per exchange data PTI DRR DRR ABM ABM
Mumbai Nov 25 PTI The rupee slumped 12 paise to end at 7452 provisional against the US currency on Thursday amid month-end dollar demand and foreign fund outflows from equity and debt markets At the interbank foreign exchange market the local currency opened at 7455 and witnessed a high of 7447 and a low of 7458 against the US dollar The local unit finally settled at 7452 down 12 paise over its previous close On Wednesday the rupee had closed at 7440 Rupee depreciated after two days of consolidation amid month-end dollar demand and foreign fund outflows from equities and debt markets said Dilip Parmar Research Analyst HDFC Securities Lacklustre price actions have been seen in the global forex market following the US holiday while the rupee traded on the backfoot as month-end dollar demand and dollar outflows from equity and debt weighed Parmar said Recovery in risk-on sentiments and series of IPOs lined up in coming months will limit the lower side in the event of stronger dollar index and crude oil prices Spot USD-INR is expected to trade in the range of 74 to 7470 Parmar noted Meanwhile Brent crude futures the global oil benchmark declined by 036 per cent to USD 8195 per barrel On the domestic equity market front the BSE Sensex ended 45410 points or 078 per cent higher at 5879509 while the broader NSE Nifty advanced 12120 points or 07 per cent to 1753625 The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 020 per cent down at 9668 Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 512265 crore as per exchange data PTI DRR DRR ABM ABM
