Rupee Rises 27 Paise to 79.68 Against US Dollar in Early Trade

Rupee Rises 27 Paise to 79.68 Against US Dollar in Early Trade

  • Business
  • September 8, 2022
  • No Comment
  • 59
  • 2 minutes read

[ad_1]

Mumbai: The rupee appreciated 27 paise to 79.68 against the US dollar in opening trade on Thursday, tracking its Asian peers, and easing crude oil prices. At the interbank foreign exchange, the domestic unit opened at 79.72 against the dollar, then touched 79.68 in initial deals, registering a gain of 27 paise over its previous close.

On Wednesday, the rupee declined by 13 paise to close at 79.95 against the US currency. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 109.78.

Brent crude futures, the global oil benchmark, advanced 1.06 per cent to USD 88.93 per barrel. The rupee opened on a positive note as crude oil fell below USD 90 per barrel, the dollar index eased to 109.78 and Asian currencies gained slightly, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

Forex traders said the currency could weaken further tracking the strength of the dollar ahead of US Federal Reserve Chair Jerome Powell’s speech and European Central Bank (ECB) meeting. In the equity market, the 30-share BSE Sensex was trading 506.4 points or 0.86 per cent up at 59,535.31. Similarly, the broader NSE Nifty rose 148.90 points or 0.84 per cent to 17,773.30.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth Rs 758.37 crore on Wednesday, according to provisional data.

Read all the Latest Business News and Breaking News here

[ad_2]

Source link

Related post

At 82,000, US issues highest student visas globally to Indians this fall

At 82,000, US issues highest student visas globally to…

[ad_1] LOS ANGELES: Students from India have got the highest number of visas issued by the United States this fall globally.…
Man at Indore international airport makes ‘bomb in bag’ joke, pays the price | Aviation News

Man at Indore international airport makes ‘bomb in bag’…

[ad_1] A family of three paid a price for making a joke about a “bomb in the bag” at the Devi…
What to watch on Thursday: ‘Pinocchio’ premieres on Disney Plus

What to watch on Thursday: ‘Pinocchio’ premieres on Disney…

[ad_1] Bump (CW at 8) Santi and Oly try to navigate their new family dynamic and the inception of their relationship…

Leave a Reply

Your email address will not be published.