New Delhi: The Rupee closed at 81.97 (provisional) with a gain of 5 paise U.S. Dollar On Monday, tracking the weak US currency in the overseas market.
Opened at 81.90 against the local unit in the interbank foreign exchange market. US currency And finally closed at 81.97 (provisional) against the greenback, registering a gain of 5 paise over its previous close.
The rupee touched a high of 81.78 and a low of 81.98 against the dollar during the day.
On Thursday, the rupee had closed at 82.02 against the American currency. Equity and forex markets were closed on April 7 on account of Good Friday.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.02 per cent to 102.06.
Global oil benchmark Brent crude futures rose 0.05 per cent to $85.16 a barrel.
According to Anuj Chaudhary, research analyst at Sharekhan by BNP Paribas, below normal monsoon forecast by Skymet and strengthening of the dollar in early Asian trade weighed on the rupee but positive domestic equities limited the fall.
The dollar strengthened as non-farm payrolls, although slightly lower than forecast, indicated a tight labor market. unemployment rate also fell from 3.6 per cent to 3.5 per cent. Chowdhury said it raised the odds that the Fed could hike interest rates by 25-bps at its FOMC meeting in May.
“We expect the Indian Rupee to trade with a slight downside bias on the stronger US Dollar and positive crude oil prices“However, positive global markets and fresh FII inflows may support the rupee at lower levels,” Chowdhary said.
Investors can look forward to CPI, Federal Open Market Committee (FOMC) minutes retail sales and industrial production data.
On the domestic equity market front, the benchmark indices continued their winning streak for the sixth day with 30-share BSE Sensex The broader NSE Nifty advanced 13.54 points, or 0.02 percent, to 59,846.51 and the broader NSE Nifty rose 24.90 points, or 0.14 percent, to 17,624.05.
Foreign institutional investors (FIIs) were net buyers in the capital market on Thursday as they bought shares worth Rs 475.81 crore, according to exchange data.
Opened at 81.90 against the local unit in the interbank foreign exchange market. US currency And finally closed at 81.97 (provisional) against the greenback, registering a gain of 5 paise over its previous close.
The rupee touched a high of 81.78 and a low of 81.98 against the dollar during the day.
On Thursday, the rupee had closed at 82.02 against the American currency. Equity and forex markets were closed on April 7 on account of Good Friday.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.02 per cent to 102.06.
Global oil benchmark Brent crude futures rose 0.05 per cent to $85.16 a barrel.
According to Anuj Chaudhary, research analyst at Sharekhan by BNP Paribas, below normal monsoon forecast by Skymet and strengthening of the dollar in early Asian trade weighed on the rupee but positive domestic equities limited the fall.
The dollar strengthened as non-farm payrolls, although slightly lower than forecast, indicated a tight labor market. unemployment rate also fell from 3.6 per cent to 3.5 per cent. Chowdhury said it raised the odds that the Fed could hike interest rates by 25-bps at its FOMC meeting in May.
“We expect the Indian Rupee to trade with a slight downside bias on the stronger US Dollar and positive crude oil prices“However, positive global markets and fresh FII inflows may support the rupee at lower levels,” Chowdhary said.
Investors can look forward to CPI, Federal Open Market Committee (FOMC) minutes retail sales and industrial production data.
On the domestic equity market front, the benchmark indices continued their winning streak for the sixth day with 30-share BSE Sensex The broader NSE Nifty advanced 13.54 points, or 0.02 percent, to 59,846.51 and the broader NSE Nifty rose 24.90 points, or 0.14 percent, to 17,624.05.
Foreign institutional investors (FIIs) were net buyers in the capital market on Thursday as they bought shares worth Rs 475.81 crore, according to exchange data.