Forex

Rupee settles flat at 78.09 against US dollar

CUE API | | Updated on: Jun 17, 2022

A strong dollar overseas, higher crude prices kept the domestic unit under pressure

The rupee pared initial gains to settle just 1 paisa higher at 78.09 (provisional) against the US dollar on Friday amid a muted trend in domestic equities and unabated foreign capital outflows.

A strong dollar overseas and higher crude prices also kept the domestic unit under pressure, forex dealers said.

At the interbank forex market, the rupee opened strong at 78.03 against the greenback and witnessed an intra-day high of 78.02 and a low of 78.09.

It finally ended at 78.09, registering a gain of 1 paisa over its previous close of 78.10.

The dollar index, which gauges the greenback's strength against a basket of six currencies, climbed 0.71 per cent to 104.37.

Brent crude futures, the global oil benchmark, spurted 0.96 per cent to $120.96 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,257.65 crore, as per exchange data.

Published on June 17, 2022
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