Rupee falls 2 paise to 84.49 against U.S. dollar in early trade

File image. | Photo Credit: Reuters

The rupee fell 2 paise to commercialized astatine 84.49 against the U.S. dollar successful aboriginal commercialized connected Friday (November 29, 2024) dragged down by important overseas money outflows and month-end dollar request from importers.

Forex traders said the rupee remains successful a weakening mode owed to dollar request from importers and overseas banks.

At the interbank overseas exchange, the rupee opened astatine 84.49 against the greenback, registering a autumn of 2 paise implicit its erstwhile close.

On Thursday, the rupee depreciated 7 paise to adjacent astatine 84.47 against U.S. dollar.

As FPIs sold ₹11,000 crore of shares connected Thursday Indian rupee was perpetually connected the selling broadside against the U.S. dollar which surged to its highest astatine 84.51 earlier closing astatine 84.4850 with the Reserve Bank of India (RBI) protecting immoderate autumn beyond 84.50 for now, Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP said.

"Good month-end request for US dollar and FPIs buying it kept dollar good bid adjacent to 84.50. Expect the buying to proceed connected Friday also," Bhansali added.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading little by 0.18% astatine 105.85.

Brent crude, the planetary lipid benchmark, roseate 0.14% to $73.38 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex roseate 396.99 points oregon 0.50% to 79,440.73 successful greeting trade, portion Nifty was up 128.00 points oregon 0.54% to 24,042.15 points.

Foreign Institutional Investors (FIIs) offloaded ₹11,756.25 crore successful the superior markets connected nett ground connected Thursday, according to speech data.

Published - November 29, 2024 10:37 americium IST