Rupee strengthens for sixth day up 28 paise to 7526 per USD
Mumbai Dec 23 PTI Rising for the sixth straight session the rupee climbed 28 paise to close at 7526 against the US dollar on Thursday as abating concerns over the Omicron variant improved risk appetite globally At the interbank forex market the local unit opened at 7543 against the greenback and witnessed an intra-day high of 7522 and a low of 7544 On Wednesday the rupee had appreciated by 5 paise to close at 7554 against the US dollar Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies rose 003 per cent to 9610 Brent crude futures the global oil benchmark fell 020 per cent to USD 7514 per barrel Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 82726 crore as per stock exchange data On the domestic equity market front the BSE Sensex ended 38472 points or 068 per cent higher at 5731528 while the broader NSE Nifty advanced 11715 points or 069 per cent to 1707260 According to Sriram Iyer Senior Research Analyst at Reliance Securities the rupee appreciated against the US dollar on Thursday as risk appetite improved as concerns over the economic impact of the Omicron coronavirus variant eased The local unit has gained 11 per cent so far this week and is poised for its best weekly performance since April 30 Iyer said Most regional and emerging market currencies appreciated against the dollar on Thursday and lent support Interbank selling the USDINR pair RBIs presence in the market absence of importers and aggressive hedging by exporters in anticipation of quarter-end dollar inflows lent support this week Iyer noted Jateen Trivedi Senior Research Analyst at LKP Securities said lower crude prices and upbeat capital markets have helped the rupee Going ahead rupee can be seen between 7510-7555 range he added PTI DRR DRR ABM ABM
Mumbai Dec 23 PTI Rising for the sixth straight session the rupee climbed 28 paise to close at 7526 against the US dollar on Thursday as abating concerns over the Omicron variant improved risk appetite globally At the interbank forex market the local unit opened at 7543 against the greenback and witnessed an intra-day high of 7522 and a low of 7544 On Wednesday the rupee had appreciated by 5 paise to close at 7554 against the US dollar Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies rose 003 per cent to 9610 Brent crude futures the global oil benchmark fell 020 per cent to USD 7514 per barrel Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 82726 crore as per stock exchange data On the domestic equity market front the BSE Sensex ended 38472 points or 068 per cent higher at 5731528 while the broader NSE Nifty advanced 11715 points or 069 per cent to 1707260 According to Sriram Iyer Senior Research Analyst at Reliance Securities the rupee appreciated against the US dollar on Thursday as risk appetite improved as concerns over the economic impact of the Omicron coronavirus variant eased The local unit has gained 11 per cent so far this week and is poised for its best weekly performance since April 30 Iyer said Most regional and emerging market currencies appreciated against the dollar on Thursday and lent support Interbank selling the USDINR pair RBIs presence in the market absence of importers and aggressive hedging by exporters in anticipation of quarter-end dollar inflows lent support this week Iyer noted Jateen Trivedi Senior Research Analyst at LKP Securities said lower crude prices and upbeat capital markets have helped the rupee Going ahead rupee can be seen between 7510-7555 range he added PTI DRR DRR ABM ABM
