Quick News Bit

Rupee gains 16 paise to 81.54 against U.S. dollar


Image used for representational purposes only.
| Photo Credit: Special Arrangement

The rupee appreciated 16 paise to 81.54 against the U.S. dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers.

At the interbank foreign exchange, the domestic unit opened at 81.69 against the dollar, then gained ground to touch 81.54, registering a rise of 16 paise over its previous close.

Also read: Rupee gains 30 paise to close at 81.63 against U.S. dollar

On Thursday, the rupee appreciated by 23 paise to close at 81.70 against the U.S. dollar.

Forex traders said the American currency has retreated from its elevated levels post Federal Open Market Committee (FOMC) minutes.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.23% to 105.82. Moreover, steady crude oil price is also aiding investor sentiments.

“Brent is steady around $85 per barrel after Thursday’s drop which came on reports that the price caps proposed for Russian crude were too high and above the current levels,” IFA Global Research Academy said in a note.

Brent crude futures, the global oil benchmark, advanced 0.20% to $85.51 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 39.89 points or 0.06% lower at 62,232.79. Similarly, the broader NSE Nifty fell 12.65 points or 0.07% to 18,471.45.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth ₹1,231.98 crore, according to exchange data.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment