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The Rupee connected Monday (October 21, 2024) settled level astatine 84.07 (provisional) against the U.S. dollar amid beardown American currency against large rivals overseas and relentless overseas money outflows.
“Investors remained cautious and stayed distant from riskier assets owed to geopolitical uncertainties,” forex dealers said. At the interbank overseas speech market, the section portion opened astatine 84.06 against the greenback and stayed astir level passim the session. The portion yet settled astatine 84.07 (provisional) against the dollar, unchanged from its erstwhile session’s closing level.
On Friday, the rupee slipped 1 paisa to adjacent astatine 84.07 against the U.S. dollar, a tad higher from its all-time debased of 84.09 recorded connected August 5 this year.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, roseate 0.19% to 103.50.
Brent crude, the planetary benchmark, surged 1.42% to ₹74.10 per tube successful futures trade. On the home equity marketplace front, Sensex declined 73.48 points, oregon 0.09%, to settee astatine 81,151.27 points. The Nifty besides fell 72.95 points, oregon 0.29%, to 24,781.10 points.
Foreign organization investors (FIIs) were nett sellers successful the superior markets connected Friday, arsenic they offloaded shares worthy ₹5,485.70 crore, according to speech data.
Analysts attributed the unabated outflow of FIIs to a further complaint chopped by the Chinese cardinal slope and a muted sentiment towards home firm earnings.
According to RBI information released connected Friday, India's forex reserves declined by $10.746 cardinal to $690.43 cardinal for the week ended October 11. In the preceding week, the reserves had dropped by $3.709 cardinal to $701.176 billion.
Published - October 21, 2024 05:13 p.m. IST
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