The rupee has stabilized at an all-time low of 78.32 against the US dollar

Mumbai: The Rs The US dollar closed at its all-time low of 78.32 (temporary) on Thursday on strong US currency and sustained foreign fund outflows, boosting investor sentiment. In the interbank foreign exchange market, the local currency opened at 78.26 and finally stabilized at its all-time low of 78.32, unchanged from its previous close.
The rupee fell 19 paise to an all-time low of 78.32 against the US dollar on Wednesday.
This Indian Rupee Dilip Parmar, a research analyst at HDFC Securities, said the early-morning gains were erased as the safe-haven demand pushed greenbacks ahead of the quarter-end adjustment.
Parmar further said that there is a high probability of a near bounce between the decline in commodities, the strengthening of regional currencies and the recovery in risky assets.
“The spot USDINR 79 is expected to be in the narrow range of 78.10 to 78.50 before moving to the odd level,” Parmar said.
The dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.41 percent to 104.62.
On the domestic equity market front, the Sensex rose 443.19 points, or 0.86 per cent, to close at 52,265.72, while the Nifty rose 143.35 points, or 0.93 per cent, to close at 15,556.65.
Foreign institutional investors remained net sellers in the capital market on Wednesday as they traded at Rs. 2,920.61 crore, according to the stock exchange.


Source link

Leave a Comment