Rupee rises 6 paise to close at 84.44 against U.S. dollar

The dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading higher. File | Photo Credit: RAGHUNATHAN S.R.

The rupee recovered from its all-time debased level and appreciated 6 paise to adjacent astatine 84.44 (provisional) against the U.S. dollar connected Friday (November 22, 2024), supported by affirmative home equities.

Forex traders said the rupee is trading successful a constrictive scope arsenic the U.S. dollar strengthened successful the overseas marketplace and Brent lipid continued to determination up arsenic warring betwixt Ukraine and Russia continued to summation investors’ attention.

Moreover, overseas organization investors person continued their equities selling mode and kept the dollar good bid.

At the interbank overseas exchange, the rupee opened astatine 84.48 and touched an intraday debased of 84.50 against the greenback. The portion ended the league astatine 84.44 (provisional) against the dollar, registering a emergence of 6 paise implicit its erstwhile close.

On Thursday (November 21, 2024), the rupee depreciated 8 paise to settee astatine an all-time debased of 84.50 against the U.S. dollar.

“Geopolitical tensions, portfolio outflows, and rallying U.S. Dollar Index are apt to support the home currency nether pressure, though the RBI’s involution is starring to a gradual and orderly decline,” Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said.

“The USD/INR brace is expected to emergence to ₹85 yet and enactment is astatine ₹84.25,” Mr. Singh said.

Meanwhile, the dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading higher by 0.50% astatine 107.50.

Brent crude, the planetary lipid benchmark, surged 0.31% to $74.46 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex jumped 1,961.32 points, oregon 2.54%, to adjacent astatine 79,117.11 points, portion Nifty surged 557.35 points, oregon 2.39%, to settee astatine 23,907.25 points.

Foreign Institutional Investors (FIIs) were nett sellers successful the superior markets connected Thursday (November 21, 2024), arsenic they offloaded shares worthy ₹5,320.68 crore, according to speech data.

Published - November 22, 2024 04:52 p.m. IST