Rupee
Meanwhile, the dollar index, which evaluates the greenback’s strength against a basket of six currencies, was trading at 104.73, up by 0.26%.
Rupee appreciated 17 paise to close at 83.33 (provisional) against the US dollar on Friday, on positive domestic markets and expectations of some fresh foreign inflows.
Reports of selling of US dollars by the Reserve Bank of India (RBI) also supported the rupee, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.50 and touched an intraday high of 83.32 and a low of 83.50.
The domestic unit finally settled at 83.33 (provisional), a rise of 17 paise from its previous close.
On Thursday, the rupee ended at 83.50 against the US dollar.
“We expect the rupee to trade with a small negative bias as the US dollar strengthens amid hawkish Fed comments and sluggish Asian and European markets. However, a constructive tone in domestic markets could sustain the currency at lower levels.
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Any new FII inflows and/or RBI action could strengthen the rupee at lower levels. The USD-INR spot price is projected to trade between ₹83.20 and ₹83.70, according to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading at 104.73, up 0.26 percent.
Brent crude futures, the global oil benchmark, increased 0.13% to $83.38 per barrel.
On the domestic equities market, the 30-share BSE Sensex rose 253.31 points, or 0.34 percent, to 73,917.03 points. The broader NSE Nifty closed 62.25 points, or 0.28 percent, higher at 22,466.10 points.
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