Comments
The rupee appreciated by 6 paise to 68.83 against the US dollar in opening trade on Thursday, tracking a positive opening in domestic equities and easing crude oil prices.
Forex traders said rupee is trading in a narrow range as market participants are awaiting cues from the Economic Survey scheduled to be tabled in Parliament on Thursday. The survey will detail the state of health of the country’s economy and outlining the challenges.
The rupee opened strong at 68.86 at the interbank forex market then gained further to touch 68.83 per dollar, displaying gains of 6 paise over the previous closing.
On Wednesday, the rupee had settled at 68.89 against the US dollar.
Easing crude oil prices, positive opening in domestic equities supported the rupee. The benchmark BSE Sensex was trading 84.86 points, or 0.21 per cent up to quote at 39,924.11 while the NSE Nifty was trading at 11,945.70, higher by 28.95 points, or 0.24 per cent. Brent crude, the global benchmark, was trading at 63.38 per barrel lower by 0.69 per cent.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 390.18 crore on Wednesday, as per provisional data.
Comments
COMMENT NOW
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.