The rupee which appreciated 32 paise to 75.04 against the US dollar in early trade on Wednesday fell later due to strong dollar demand amid lesser supplies
At 2.15 pm, the rupee was quoted lower by 11 at 75.47 against the dollar. It had settled at 75.36 against the US dollar on Tuesday.
The rupee went up early tracking positive domestic equities and gains in Asian currencies amid weakness in the greenback.
Forex traders said heavy buying in domestic equity market, sustained foreign fund inflows and upbeat risk appetite supported the rupee early.
.
.
On the equities front, the 30-share BSE benchmark Sensex was quoting 575.79 points higher at 34,401.24 and broader Nifty rose 169.50 points to 10,148.60.
Foreign institutional investors were net buyers in the capital market, as they bought equity shares worth Rs 7,498.29 crore on Tuesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 1.04 per cent to USD 39.98 per barrel.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.28 per cent to 97.39.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.