Rupee falls 3 paise to close at 84.32 against U.S. dollar

Representational image. File

The rupee fell 3 paise to adjacent astatine 84.32 (provisional) against the U.S. dollar connected Tuesday (November 26, 2024), arsenic the greenback strengthened connected Donald Trump’s tariff plans and a muted inclination successful home equities.

Forex traders said U.S. President elite Donald Trump’s comments that helium would enforce further 10% tariffs connected Chinese goods and enforce a 25% levy connected imports from Mexico and Canada has affected hazard sentiment.

Traders are besides awaiting the Federal Open Market Committee (FOMC) minutes of the November 7 gathering for further cues.

At the interbank overseas exchange, the rupee opened astatine 84.27 and touched an intra-day precocious of 84.22 and debased of 84.35 against the greenback. The portion ended the league astatine 84.32 (provisional) against the dollar, registering a autumn of 3 paise implicit its erstwhile close.

On Monday (November 25, 2024), the rupee appreciated 12 paise to adjacent astatine 84.29 against U.S. dollar.

“Traders look guardant to the FOMC minutes of the November 7 gathering to beryllium released aboriginal tonight. The USD-INR brace whitethorn proceed to commercialized successful the 84-84.50 successful the abbreviated term. Interim enactment is astatine 84.11,” said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Meanwhile, the dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading higher by 0.06% astatine 106.87.

Brent crude, the planetary lipid benchmark, roseate 0.79% to $73.59 per tube successful futures trade.

The wide spot of the American currency and elevated crude lipid prices are apt to strain India’s commercialized balance, creating challenges for the rupee, forex traders said.

In the home equity market, the 30-share BSE Sensex fell 105.79 points, oregon 0.13%, to adjacent astatine 80,004.06 points, portion Nifty fell 27.40 points, oregon 0.11%, to settee astatine 24,194.50 points.

Foreign Institutional Investors (FIIs) turned nett buyers successful the superior markets connected Monday (November 25, 2024), purchasing shares worthy ₹9,947.55 crore, according to speech data.

Published - November 26, 2024 04:52 p.m. IST