Rupee Falls 12 Paise Against US Dollar
The Indian rupee fell 12 paise against the US dollar to close at 83.15 (provisional) on Friday. Experts attribute the dip to rising crude oil prices and the dollar index, which measures the strength of the dollar against six major currencies. However, strong domestic equity performance limited the rupee”s decline.
The rupee opened at 83.02 against the US dollar and rose to 82.98 in early trading. However, late selling pushed the rupee to 83.15 (provisional), down 12 paise from its previous close. On Thursday, the rupee closed at 83.03 against the US dollar, down 2 paise from its previous close.
“The Indian rupee traded in the narrow range amid dollar inflows from the FTSE rebalancing while the nationalized bank bought the dollar on behalf of oil importers,” news agency PTI quoted Dilip Parmar, Research Analyst, HDFC Securities, as saying.
Meanwhile, the dollar index fell 0.19% to 105.20, while Brent crude futures rose 0.28% to $93.96 per barrel.
On the domestic equity market front, the 30-share BSE Sensex closed 319.63 points or 0.47 per cent higher at 67,838.63. The broader NSE Nifty advanced 89.25 points or 0.44 per cent to 20,192.35.
According to exchange data, Foreign Institutional Investors (FIIs) were net buyers in the capital market on Thursday as they purchased shares worth Rs 294.69 crore, according to a PTI report.
