Mumbai Dec 17 PTI The rupee pared its initial losses to settle marginally higher by 3 paise at 7606 against the US dollar on Friday even as concerns over foreign fund outflows and rising crude oil prices weighed on overall sentiment The local unit however recorded its fourth weekly decline amid growing concerns over the Omicron variant of coronavirus Firming up of crude oil prices too weighed on the local unit At the interbank foreign exchange market the rupee opened lower at 7623 a dollar registering a decline of 14 paise from the last close During the day it pared its losses and settled at 7606 provisional against the American currency On a weekly basis the rupee depreciated 28 paise against the US dollar Meanwhile the US dollar index which measures the greenbacks strength against the basket of six currencies fell 008 per cent to 9596 Indian rupee stabilised today after hitting lowest level of 20 months this week but recorded fourth weekly decline to close at 7609 a dollar amid risk averse sentiments policy divergence foreign fund outflows and higher trade deficit number said Dilip Parmar- Research Analyst HDFC Securities The Reserve Bank of Indias policy divergence with the US Fed remains sizeable which weighed on the local unit along with higher imports Parmar said Going ahead trading volumes are set to decline as forex markets head into the Christmas break As major events of the year are almost done we expect forex markets to stay calm in the coming week he added According to Emkay Global Financial Services as we proceed towards the year-end USDINR spot will be sluggish in between a broad range Also next week there is no major data or event to focus on so Omicron news will likely be the key catalyst for forex market Brent crude futures the global oil benchmark fell 145 per cent to USD 7393 per barrel Foreign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 206990 crore as per exchange data On the domestic equity market front the BSE Sensex ended 88940 points or 154 per cent lower at 5701174 while the broader NSE Nifty declined 26320 points or 153 per cent to 1698520 PTI DRR MKJ

Mumbai Nov 24 PTI The Indian rupee recovered its initial losses and settled 2 paise up at 7440 against the greenback on Wednesday as exporters dollar sales helped offset elevated crude oil prices Investors also awaited the minutes of the latest Federal Reserve meeting forex traders said At the interbank forex market the local unit opened on a weak note at 7453 against the US dollar and witnessed an intra-day high of 7431 and a low of 7454 Snapping its three-day losing run the domestic currency finally ended at 7440 registering a gain of just 2 paise over its previous close of 7442 According to Emkay Global Financial Services the forex market is stuck in a lacklustre trading range with focus being on Fed minutes and a slew of US economic data Only an upbeat data with marginally hawkish Federal Open Market Committee FOMC minutes will bolster the case that the US consumer is in good shape and increase bets for an earlier than expected rate hike appreciating the USD-INR spot it said The dollar index which gauges the greenbacks strength against a basket of six currencies advanced 022 per cent to 9670 Brent crude futures the global oil benchmark fell 024 per cent to USD 8211 per barrel On the domestic equity market front the BSE Sensex ended 32334 points or 055 per cent lower at 5834099 while the broader NSE Nifty fell 8630 points or 05 per cent to 1741505 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 447706 crore as per exchange data The Indian Rupee ended flat against the US dollar in a choppy trading session as exporters dollar sales helped the local unit offset strong crude oil prices and stronger dollar said Sriram Iyer Senior Research Analyst at Reliance Securities Meanwhile Asian currencies were trading flat-to-weaker tracking the strength of the dollar index Indian government bond yields ended marginally higher on Wednesday The benchmark 610 per cent bond ended at 637 per cent compared to 636 per cent in the previous session Iyer said Investors will be awaiting data from the US side of things including the initial jobless claims US GDP the University of Michigans consumer sentiment index and probably the most important one of them all the PCE price index the most tracked indicator for inflation he added According to Anindya Banerjee DVP Currency Derivatives and Interest Rate Derivatives at Kotak Securities strong corporate inflows were noted and that led to a mild appreciation in the rupee Indian Rupee remains one of the strongest currencies in the world over the month of November thanks to robust IPO flows corporate flows and carry trading interest We expect USD-INR to trade within a range of 7420 and 7460 over the near term Banerjee said PTI DRR ABM ABM

Mumbai Nov 17 PTI The rupee pared initial losses to settle 9 paise higher at 7428 provisional against the US dollar on Wednesday despite a muted trend in domestic equities At the interbank forex market the local unit opened on a weak note at 7451 against the greenback and later settled at 7428 higher by 9 paise over its previous close of 7437 The local unit moved in a range of 7425 to 7451 in the day trade According to Emkay Global Financial Services there are no fresh triggers in the forex market and the USDINR spot is stuck with in a tight range of 7420-7455 It is a truncated week with inflation playing a major hindrance to the risk appetite So the only focus remains on whether Fed members express their worry over inflation supporting the uptrend in DXY But overall we expect the spot to continue trading in between 74-7465 it said On the domestic equity market front the BSE Sensex ended 31404 points or 052 per cent lower at 6000833 while the broader NSE Nifty declined 10055 points or 056 per cent at 1789865 Brent crude futures the global oil benchmark fell 087 per cent to USD 8171 per barrel Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading higher by 003 per cent at 9594 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 56067 crore according to exchange data PTI DRR MR MR

Mumbai Oct 27 PTI The rupee weakened by 7 paise to end at 7503 against the US currency on Wednesday due to month-end dollar demand from importers and a muted trend in the domestic equities A stronger dollar in overseas markets and suspected RBI intervention ahead of IPOs also weighed on the local unit according to analysts The Indian rupee depreciated following month-end dollar demand and a stronger greenback against major currencies Weakness in Asian currencies and risk-off sentiments weighed on the local unit said Dilip Parmar Research Analyst HDFC Securities Going Ahead the rupee is expected to consolidate between 7470 and 7530 following expectation of fund inflows from a series of IPOs starting from tomorrow Parmar added At the interbank foreign exchange market the local currency opened at 7502 and later witnessed a high of 7490 and a low of 7505 against the US dollar in the day trade The rupee finally settled at 7503 a dollar down 7 paise over its previous close of 7496 against the US dollar The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 002 per cent up at 9397 Another lackluster day in USDINR with primary market FPI flows being offset by suspected RBI intervention and demand for US Dollars from oil marketing companies said Anindya Banerjee DVP Currency Derivatives Interest Rate Derivatives at Kotak Securities Ltd Banerjee further said that over the near term IPO-related FPI flows will remain heavy and that along with carry trade may keep USDINR capped near 752025 levels But strong US Dollar Index and RBI intervention may prevent a sharp slide Therefore a range of 7475 to 7525 may unfold over the near term The forex traders are having a wary eye on ECB policy a moderately dovish tone will activate the dollar bulls But its implication on USDINR spot will be limited as we have IPO subscriptions this week according to Emkay Global Financial Services In USDINR spot we expect immediate resistance lies around 7530 a break of which can push prices towards 7550 zone While 7475-7450 will act as a crucial support it noted Oil prices eased in global markets with the benchmark Brent Crude declining by 108 per cent to USD 8547 per barrel On the domestic equity market front the BSE Sensex ended 20693 points or 034 per cent lower at 6114333 while the broader NSE Nifty declined 5745 points or 031 per cent to 1821095 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 236866 crore according to the exchange data PTI DRR MR MR