Rupee settles 1 paisa lower at 84.43 against U.S. dollar

The rupee recovered from its lowest level of 84.46 to settee 4 paise higher astatine 84.42 against the U.S. dollar | Photo Credit: Getty Images/iStockphoto

The rupee traded successful an astir level enactment and settled 1 paisa little astatine 84.43 (provisional) against the U.S. dollar connected Tuesday (November 19, 2024), arsenic enactment from affirmative home equity markets and little crude lipid prices was negated by the spot of the American currency successful the overseas market.

Forex traders said the Ukraine-Russia warfare took a caller crook with Russia updating its atomic doctrine and Ukraine aimed American missiles astatine Russia. Safe haven assets similar Gold, JPY, CHF and to immoderate grade dollar were bought and the rupee felt the vigor and was sold astatine the closing hours.

At the interbank overseas exchange, the rupee opened astatine 84.39 and stayed range-bound passim the session. It yet settled astatine 84.43 (provisional) against the greenback, down 1 paisa from its erstwhile close.

On Monday (November 18, 2024), the rupee recovered from its lowest level of 84.46 to settee 4 paise higher astatine 84.42 against the U.S. dollar.

Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said the USD-INR brace is apt to commercialized successful this scope successful the adjacent word until the U.S. yields interruption higher decisively. The 10-year U.S. yields look a important absorption astatine 4.50%.

"Traders volition intimately show the assembly elections successful Maharashtra and Jharkhand. In addition, India's PMIs information slated to beryllium released connected Friday (November 15, 2024) volition besides beryllium connected traders’ radar," helium added.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading higher by 0.15% astatine 106.35.

Brent crude, the planetary lipid benchmark, declined by 0.42% to $72.99 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex roseate 239.37 points, oregon 0.31%, to adjacent astatine 77,578.38 points, portion Nifty climbed 64.70 points, oregon 0.28%, to settee astatine 23,518.50 points.

Foreign Institutional Investors (FIIs) were nett sellers successful the superior markets connected Monday (November 18, 2024), arsenic they offloaded shares worthy ₹1,403.40 crore, according to speech data.

Published - November 19, 2024 04:27 p.m. IST