Finance
On Thursday, the rupee fell 7 paise to 81.37 (provisional) against the US dollar, weighed down by a flat trend in domestic equities and foreign fund outflows.
The rupee opened at 81.45 against the US dollar on the interbank foreign exchange market and eventually settled at 81.37, down 7 paise from its previous close.
During the session, the rupee reached an intraday high of 81.27 against the US dollar.
The rupee had settled at 81.30 against the US dollar in the previous session on Wednesday.
The dollar index, which measures the strength of the US currency against a basket of six currencies, was 0.21 percent lower at 102.14.
Global oil benchmark Brent crude futures declined 0.94 per cent to USD 84.18 per barrel.
Market participants started positioning for SBI green bond inflows and Adani’s FPO inflows.
The 30-share BSE Sensex fell 187.31 points, or 0.31 percent, to 60,858.43, while the NSE Nifty fell 57.50 points, or 0.32 percent, to 18,107.85.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, offloading shares worth Rs 319.23 crore.
Due to global economic concerns, forex traders anticipate the rupee to trade with a slight negative bias.
IMF Managing Director Gita Gopinath predicted a difficult year for the global economy in 2023. According to Gopinath, the global economy is in a unique situation due to unprecedented levels of high inflation, which is causing tension between monetary and fiscal policies.
Source:BS
