Despite this, dollar weakness and positive cues from global markets may support Rupee at lower levels.
He also said that global inflationary pressures may also put pressure on riskier assets. The dollar declined by more than 1 per cent on a sharp bounce amid an unprecedented 75 bps rate hike by ECB to 1.25 per cent. The dollar index fell 0.98 per cent to 108.63, which measures the greenback's strength against a basket of six currencies.īrent crude futures, the global oil benchmark, advanced 1.72 per cent to USD 90.68 per barrel.Īnuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said that the rupee appreciated positive domestic equities and a weak US dollar.
The rupee closed at 79.57, up 12 paise from its earlier close of 79.69. If there is going to be any change in the exchange rate of to Rs, recalculation of the amount. The domestic currency’s local unit opened at 79.66 against the greenback in the interbank forex market, It performed an intra-day high of 79.47 and a low of 79.66 during the session. For five hundred dollars you get today 39,807 rupees 77 paisas. Indian rupee again breached the psychologically crucial 80 mark to touch an all-time low of 80.11 in early trade on Monday tracking firmness in the US dollar. equity futures and Asian peers.The Indian rupee appreciated 12 paise to close at 79.57 versus the US dollar on Friday, tracking positive domestic equities and foreign fund inflows. Indian shares advanced, tracking an uptick in U.S. Dollar-rupee futures contracts inched lower and open interest on them was slightly lower. Meanwhile, rupee forward premiums dropped, with the 1-year implied yield slipping to 2.88%, weighed down by a hawkish Federal Reserve and lower oil prices.Įuro-rupee and other rupee crosses futures traded on the NSE rose. The European Central Bank on Thursday raised its key interest rate by 75 basis points and said it expected to continue raising rates to dampen demand, prioritising the fight against inflation. The euro was the main reason for the pullback on the dollar index. Lower oil prices and a weaker dollar "are good enough" for traders to add on short rupee speculative positions, said Anindya Banerjee, head research - fx and interest rates at Kotak Securities.įoreign equity inflows are holding up well and that is another piece of positive news for the rupee, Banerjee said.įoreign investors have purchased about $350 million worth of Indian equities so far this month after $6.5 billion worth buying in August, according to NSDL data. The gauge had climbed to near 110.80 earlier this week, the highest in 20 years.īrent crude futures were hovering near $89.50, shedding about 18% since the beginning of August. The dollar index declined 0.8% to 108.84 and was poised for its worst session in a month. The local currency had reached 79.57 earlier in the session.įor the week, the rupee has gained about 0.2% and is headed for its best performance in seven weeks. dollar, as of 0502 GMT, up from 79.71 in the previous session. The rupee was trading at 79.6350 per U.S. currency on Friday, as the dollar index fell further from a two-decade high scaled earlier this week. Que - Please provide the details of Exchange Rate value of INR against USD dollar from the year 1947 till date. MUMBAI - The Indian rupee hit a more than one-week high against the U.S.
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