Rupee against Dollar: He Rupee It remained stable at 83.87 against the US dollar. dollar The rupee fell 1.2% in early trade on Tuesday after initially posting some gains. Despite a positive performance in domestic equity markets and a weaker US currency, the rupee’s move was tempered by foreign capital outflows.
In the interbank foreign exchange market, the Rupee The rupee started the day at 83.86 per dollar, briefly appreciated to 83.84 and then returned to the previous session’s closing level of 83.87. On Monday, the rupee had closed 8 paise higher at 83.87 against the dollar.
During the last week shortened by the holidays, the Rupee The dollar exhibited minimal fluctuations and narrowly avoided breaching the critical 84 mark. The stability was partly due to lower crude oil prices, which helped support the local currency.
Traders expect caution in the currency market as investors await key economic indicators, including US PMI data and Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole Symposium. These events are expected to provide insight into possible rate cuts by the Fed.
The dollar index, which measures the strength of the U.S. dollar against a basket of six major currencies, rose 0.10 percent to 101.82.
Brent crude prices fell 0.68 percent to $77.13 per barrel, contributing to the RupeeThe resilience of.
On the domestic equity front, the Sensex gained 188.93 points, or 0.23 per cent, to 80,613.61 points, while the Nifty rose 60.15 points, or 0.24 per cent, to 24,632.80 points.
Foreign institutional investors (FIIs) were net sellers in capital markets on Monday, offloading shares worth Rs 2,667.46 crore, according to exchange data.
(With PTI inputs.)
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