The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14% to 105.75. done
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14% to 105.75. done
The rupee strengthened by 13 paise to 79.11 against the US dollar in early trade on Monday. Forex traders said the rupee strengthened as the dollar continued to fall on the back of a less aggressive US Fed and fall in crude oil prices.
At the interbank foreign exchange, the rupee opened at 79.16 against the US dollar and touched 79.11 in early deals, registering a gain of 13 paise over its previous close.
The rupee had closed at 79.24 against the US dollar in the previous session.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14% to 105.75.
Global oil benchmark Brent crude futures fell 0.97% to $103 a barrel.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee can trade in the range of 79 to 79.40.
“The market is waiting for the RBI MPC to give a rate signal on August 5,” Mr. Bhansali said.
On the domestic equity market front, the 30-share Sensex was trading 188.86 points or 0.33% higher at 57,759.11, while the broader NSE Nifty was trading 72.45 points or 0.42% higher at 17,230.70.
Foreign institutional investors were net buyers in the capital market on Friday, buying shares worth 1,046.32 crore, according to exchange data.