Finance
On Friday, the rupee fell 4 paise to close at 82.55 (provisional) against the US dollar, tracking a flat trend in domestic equities and firm crude oil prices.
According to forex traders, the rupee has consolidated in a narrow range due to risk aversion in global markets.
The local currency opened at 82.61 against the US dollar on the interbank foreign exchange market, touching a low of 82.64 and a high of 82.34 intraday.
It eventually settled at 82.55 per dollar, down 4 paise from its previous close of 82.51.
Market participants may remain cautious ahead of India’s IIP data and the US’s Michigan consumer sentiment. The USD-INR spot rate is expected to trade in a range of Rs 82 to Rs 83.30, according to Choudhary.
The dollar index, which measures the strength of the US currency against a basket of six currencies, increased 0.6% to 103.28.
Brent crude futures rose 2.22 percent to USD 86.38 per barrel, the global oil benchmark.
The 30-share BSE Sensex fell 123.52 points, or 0.20 percent, to end at 60,682.70, while the broader NSE Nifty fell 36.95 points, or 0.21 percent, to 17,856.50.
On Thursday, foreign institutional investors (FIIs) were net sellers in the capital markets, selling shares worth Rs. 144.73 crore, according to exchange data.
Source:FE
