Mumbai: The Indian rupee fell by 13 paise to 74.19. U.S. Dollar In the early trade on Wednesday, there was a soft trend in the domestic stock markets.
At the interbank foreign exchange, the rupee opened at 74.18 against the dollar, then fell to 74.19, registering a decline of 13 paise over the previous close.
On Tuesday, the rupee had closed at 74.06 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 per cent lower at 93.71.
On the domestic equity market front, BSE Sensex It was trading 307.88 points or 0.52 per cent lower at 59,359.72, while the broader NSE Nifty was trading 83.10 points or 0.47 per cent lower at 17,665.50.
Meanwhile, foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth Rs 1957.70 crore, according to exchange data.
global oil benchmark Brent Crude oil fell 1.32 percent to $ 78.05 a barrel.
“As US yields rise, the dollar index rises and so do oil prices,” he said. Anil Kumar Bhansali, Head of the Treasury, Finrex treasure Consultant.
According to Bhansali, the rupee is expected to remain in the range of 73.90 to 74.40. “Quarter-end sales should come from IT companies and MSCI rebalancing as RBI tolerates currency volatility,” he added.
At the interbank foreign exchange, the rupee opened at 74.18 against the dollar, then fell to 74.19, registering a decline of 13 paise over the previous close.
On Tuesday, the rupee had closed at 74.06 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 per cent lower at 93.71.
On the domestic equity market front, BSE Sensex It was trading 307.88 points or 0.52 per cent lower at 59,359.72, while the broader NSE Nifty was trading 83.10 points or 0.47 per cent lower at 17,665.50.
Meanwhile, foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth Rs 1957.70 crore, according to exchange data.
global oil benchmark Brent Crude oil fell 1.32 percent to $ 78.05 a barrel.
“As US yields rise, the dollar index rises and so do oil prices,” he said. Anil Kumar Bhansali, Head of the Treasury, Finrex treasure Consultant.
According to Bhansali, the rupee is expected to remain in the range of 73.90 to 74.40. “Quarter-end sales should come from IT companies and MSCI rebalancing as RBI tolerates currency volatility,” he added.
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