The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.50% at 108.13.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.50% at 108.13.
Rupee After moving in a narrow range against the US dollar on Thursday, it closed 7 paise lower at ₹79.93 (provisional).
In the interbank foreign exchange market, the domestic currency opened at ₹79.80 per dollar. It remained in the range of ₹79.80 to ₹79.93 during the session.
The domestic unit finally closed at ₹79.93, 7 paise lower than its previous close of ₹79.86.
Dilip Parmar said, “The Indian rupee remained in a narrow range and weakened among Asian currencies. China’s stimulus to boost the economy supported regional peers, while higher crude oil prices in the local unit and increased risk in domestic markets.” Been under pressure after a full mood.” , Research Analyst, HDFC Securities.
Mr Parmar further added that the spot USD/INR, in the near future, is expected to trade in the range of ₹79.60 to ₹80.10 before the monthly rebalancing tomorrow.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.50% at 108.13.
Global oil benchmark Brent crude futures rose 0.39% to $101.61 a barrel.
Forex traders said market participants remained cautious ahead of the Federal Reserve Chairman’s speech at the Jackson Hole symposium.
On the domestic equity market front, the BSE Sensex closed 310.71 points or 0.53% lower at 58,774.72, while the broader NSE Nifty ended 82.50 points or 0.47% lower at 17,522.45.
Foreign institutional investors (FIIs) remained net buyers in the capital market as they bought shares worth Rs 23.19 crore on Wednesday, according to provisional data.