Mumbai Aug 31 PTI The Indian rupee appreciated 4 paise to 7325 against the US dollar in opening trade on Tuesday tracking a positive trend in domestic equities At the interbank foreign exchange the rupee opened at 7326 against the dollar then inched higher to 7325 up 4 paise over its previous close On Monday the rupee had settled at 7329 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was down 012 per cent at 9254 A strong rally in the domestic equity markets and a weak American currency in the overseas markets also supported the rupee sentiment According to Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors the rupee which has appreciated nearly 100 paise since Friday has been gaining on bountiful corporate inflows RBI has been present intermittently and equity inflows have also been aiding the rupee after FED rhetoric on Friday he added The US Fed chief Jerome Powells speech at Jackson Hole Symposium was dovish and expressed hope that the Fed will keep supporting the market with low interest rates traders said Global oil benchmark Brent crude futures fell 048 per cent to USD 7306 per barrel On the domestic equity market front BSE Sensex was trading 8709 points or 015 per cent higher at 5697685 while the broader NSE Nifty advanced 2155 points or 013 per cent to 1695260 Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth Rs 120281 crore as per exchange data PTI DRR ANS ANS

Mumbai Aug 30 PTI The rupee surged by 40 paise to close at more than two-month high of 7329 against the US dollar on Monday following dovish comments by the US Federal Reserve chairman on interest rates A strong rally in the domestic equity markets and a weak American currency in the overseas markets also supported the rupee sentiment At the interbank forex market the local unit opened strong at 7346 against the greenback and later moved in a range of 7321 to 7354 in the day trade The local unit finally closed at 7329 the highest closing level since June 14 It had closed at 7369 on Friday The rupee logged the third straight session of gain on Monday In the three trading sessions the local unit appreciated by 95 paise against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading unchanged at 9268 The Indian Rupee appreciated against the dollar this Monday supported by dovish statement from the Federal Reserve Chairman Jerome Powell who said that more labour market data was needed before they could begin scaling back bond purchases said Sriram Iyer Senior Research Analyst at Reliance Securities Powell also said that the US Federal Reserve Bank was still far from pulling interest rates off the record low The currency had initially tested an intraday high of 7321 its highest level since June 15 on sustained dollar sales by foreign banks but trimmed gains on dollar bids likely for the Reserve Bank of India Iyer noted The US Fed chiefs speech at Jackson Hole Symposium was dovish and expressed hope that the Fed will keep supporting the market with low interest rates traders said The Indian rupee continued Fridays upward momentum and became the second-best performing currency among Asian basket said Dilip Parmar Research Analyst HDFC Securities The weakness in the dollar a sharp surge in demand for risk assets and expectations of high dollar inflows in the coming month through FDI and FII routes well-supported the Indian rupee Parmar added Spot USDINR is expected to head towards a psychological level of 73 once the level of 7320 breaks and find resistance at 7365 he noted On the domestic equity market front the BSE Sensex ended 76504 points or 136 per cent higher at 5688976 while the broader NSE Nifty advanced 22585 points or 135 per cent to 1693105 Brent crude futures the global oil benchmark fell 022 per cent to USD 7254 per barrel Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 77875 crore as per exchange data Other Asian and emerging market currencies were mixed this Monday tracking the weakness of the greenback The dollar index was flat but remains near the 2-week lows this Monday afternoon trade in Asia PTI DRR MR MR

Mumbai Aug 25 PTI The rupee on Wednesday declined by 5 paise to close at 7424 against the US currency due to a stronger dollar in the overseas markets Dollar demand from oil marketing companies and importers also weighed on the rupee analysts said At the interbank foreign exchange market the domestic currency opened marginally down at 7420 and later dropped to a low of 7430 in the day trade On Tuesday the rupee had settled at 7419 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 004 per cent higher at 9293 Brent crude futures the global oil benchmark fell 015 per cent to USD 7094 per barrel The rupee was dragged down by dollar demand from oil marketing companies and importers Sriram Iyer Senior Research Analyst at Reliance Securities said The unit also weakened amid talks of speculative dollar demand from foreign banks on expectations that the Reserve Bank of India could continue to build up its forex reserves he added Dilip Parmar Research Analyst HDFC Securities said that the forex market is in overly thin market with low volume and volatility which may remain till Monday Surge in crude oil prices in the last two days also weighed on the rupee as Brent crude oil prices rallied around 9 per cent to USD 71 per barrel mark Parmar said Rupee opened on a flat note and the currency has been very resilient to any global uncertainty in the last few sessions Reaction on the currency has been muted despite weaker-than-expected economic numbers that were released from the US Gaurang Somaiyaa Forex Bullion Analyst Motilal Oswal Financial Services said Volatility is also low ahead of the important Jackson Hole Symposium traders said They said investors are awaiting for cues about the scaling back of the easy monetary policy by the US Federal Reserve Anindya Banerjee DVP Currency Derivatives Interest Rate Derivatives at Kotak Securities Ltd said that volatility has become extinct in the USD-INR pair as the RBI continues to absorb dollar flows Going into Jackson Hole meeting starting tomorrow evening we expect USD-INR to remain within a range of 7410-7440 on spot Banerjee said On the domestic equity market front the BSE Sensex ended 1477 points or 003 per cent lower at 5594421 while the broader NSE Nifty advanced 1005 points or 006 per cent to 1663465 Meanwhile foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 164491 crore as per exchange data PTI DRR MR