Rupee plunges 15 paise to settle at 84.44 against U.S. dollar

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The rupee declined sharply by 15 paise to adjacent astatine 84.44 (provisional) against the U.S. dollar connected Wednesday (November 27, 2024) amid uncertainties surrounding U.S. President-elect Donald Trump’s commercialized policies and an summation successful crude lipid prices.

However, a beardown amusement astatine the home equity markets, FII inflows on with a weakening dollar against large currencies supported the section portion astatine little level, according to forex traders.

At the interbank currency exchange, the rupee opened astatine 84.38, little by 9 paise from its erstwhile close, but declined to an intra-day debased of 84.48 during the session. It settled astatine 84.44 (provisional), 15 paise little than Tuesday’s (November 26, 2024) adjacent of 84.29.

According to analysts, U.S. President-elect Donald Trump’s denotation of adopting assertive commercialized policies added to the volatility successful the currency.

“Rupee mislaid each its sheen it had gained connected Wednesday (November 27, 2024) and fell to 84.48 earlier recovering arsenic RBI sold dollars... but dollars were bought again connected relationship of month-end request and it (rupee) closed lower,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

“It is expected to beryllium successful the scope of 84.30 to 84.55 connected Thursday (November 28, 2024),” helium added.

Meanwhile, the dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading little by 0.46% astatine 106.51.

Brent crude, the planetary lipid benchmark, roseate 0.55% to $73.21 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex climbed 230.02 points to settee astatine 80,234.08, portion Nifty besides roseate 80.40 points to extremity the time astatine 24,274.90.

Foreign Institutional Investors (FIIs) were nett buyers successful the superior markets connected Tuesday (November 26, 2024), purchasing shares worthy ₹1,157.70 crore, according to speech data.

Published - November 27, 2024 05:01 p.m. IST

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