Global oil benchmark Brent crude futures fell 1.07% to $119.87 a barrel
Global oil benchmark Brent crude futures fell 1.07% to $119.87 a barrel
The rupee on Wednesday fell 13 paise to close at a new all-time low of 78.17 (provisional) against the US dollar, as easing in domestic equities and frequent foreign fund outflow weighed on investor sentiments.
At the interbank forex market, the local currency opened at 77.99 and finally closed at its all-time low of 78.17, down 13 paise from its previous close of 78.04.
Gaurang Somaiya, Forex & Bullion Analyst, Motilal, said, “The US central bank is expected to raise rates by 50 bps. Hawkish remarks may support the dollar at lower levels. Major crosses remain under pressure after broad gains in dollar. ” Oswal Financial Services
“We expect USD-INR to trade sideways and bid in the range of 77.70 and 78.40,” Mr. Somaiya said. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.64% to 104.84.
Global oil benchmark Brent crude futures fell 1.07% to $119.87 a barrel.
On the domestic equity market front, the BSE Sensex ended 152.18 points or 0.29% lower at 52,541.39, while the broader NSE Nifty ended 39.95 points or 0.25% lower at 15,692.15.
According to stock exchange data, foreign institutional investors continued their selling by selling shares worth a net ₹4,502.25 crore on Tuesday.