Rupee fell 7 paise to 84.47 against US dollar

The rupee fell 7 paise to commercialized astatine 84.47 against the US dollar successful aboriginal commercialized connected Thursday weighed down by a muted inclination successful home equities and spot of the American currency successful the overseas markets.

Forex traders said the latest Federal Open Market Committee (FOMC) minutes uncover a important displacement successful the Federal Reserve's outlook. The Fed is apt to enactment downward unit connected short-term involvement rates, reducing the entreaty of dollar-denominated assets and contributing to the diminution successful the Dollar Index.

At the interbank overseas exchange, the rupee opened astatine 84.45 and moved successful a choky scope and touched 84.47 against the greenback, registering a autumn of 7 paise implicit its erstwhile close.

On Wednesday, the rupee depreciated by 11 paise to adjacent astatine 84.40 against the US dollar.

"The 84.50 level remains a beardown enactment for the USD/INR pair. RBI interventions, coupled with anticipated superior inflows -- specified arsenic Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 cardinal superior rise -- are expected to enactment the rupee further," CR Forex Advisors MD Amit Pabari said.

Pabari further added that the USD/INR brace is apt to brushwood absorption adjacent the 84.50 mark, with expectations of trading wrong the 83.80 to 84.50 range, showing a flimsy downward bias.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading higher by 0.14 per cent astatine 106.22.

Brent crude, the planetary lipid benchmark, fell 0.18 per cent to USD 72.70 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex roseate 68.21 points oregon 0.09 per cent to 80,302.29 successful greeting trade, portion Nifty was up 34.20 points oregon 0.14 per cent to 24,309.10 points.

Foreign Institutional Investors (FIIs) infused Rs 7.78 crore successful the superior markets connected a nett ground connected Wednesday, according to speech data.