Rupee settles on flat note, rises 1 paisa to 84.07 against U.S. dollar

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The rupee settled connected a level enactment and roseate 1 paisa to 84.07 (provisional) against U.S. dollar connected Thursday, weighed down by persistent overseas money outflows and month-end dollar request from importers.

Forex traders said suspected involution by the Reserve Bank of India (RBI) supported the section currency astatine little levels.

At the interbank overseas exchange, the rupee opened astatine 84.08 against the greenback. It traded successful a choky scope and ended the time astatine 84.07 (provisional), 1 paisa up from its erstwhile close.

On Wednesday, the rupee depreciated 3 paise to adjacent astatine 84.08 against U.S. dollar.

The section currency has been hovering astir its all-time debased level. Rupee touched its lowest closing level of 84.10 against the dollar connected October 11.

According to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, month-end request kept the Indian rupee weak, adjacent to its lowest point. Meanwhile, the RBI was selling dollars to support it wrong the range.

As it was a marketplace vacation successful astir centres little volumes kept the rupee good offered against the dollar. "The scope for Monday is expected astatine 84.00 to 84.20 arsenic we measurement into the predetermination week of the U.S.," Bhansali added.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading 0.08% little astatine 103.91.

Brent crude, the planetary lipid benchmark, roseate 0.22% to $72.71 per tube successful futures trade.

On the home equity marketplace front, Sensex declined 553.12 points, oregon 0.69%, to 79,389.06 points. The Nifty fell 135.50 points, oregon 0.56%, to 24,205.35 points.

Foreign organization investors (FIIs) were nett sellers successful the superior markets connected Wednesday, arsenic they offloaded shares worthy ₹4,613.65 crore, according to speech data.

On the macroeconomic front, the output of 8 cardinal infrastructure sectors expanded by 2% successful September, though the maturation was slower than the 9.5% registered successful the aforesaid period past year, according to authoritative information released connected Wednesday.

The Centre's fiscal shortage astatine the extremity of the archetypal fractional of fiscal twelvemonth FY25 touched 29.4% of the full-year target, authorities information showed connected Wednesday.

Published - October 31, 2024 04:24 p.m. IST