Bharat Express

US Dollar

The rupee and other Asian currencies are under pressure as the dollar index rises amid speculation that the Fed may cut rates later this year

Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 1,622.69 crore, according to exchange data.

At the interbank foreign exchange, the domestic currency opened at 82.87 and inched up further to trade at Thursday's closing level of 82.85 against the greenback.

At the interbank foreign exchange, the rupee opened at 83 against the dollar and touched an intraday high of 82.98 and a low of 83.08.

In early trade on Monday, the rupee saw a 4-paise depreciation against the US dollar, reaching 83.02.

While everything was going on, the WPI increased by 0.73 percent year over year in December 2023 compared to 0.26 percent the month before, which was less than the 0.9% prediction.

The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise.

A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said.

Bhansali further noted that Brent oil price rose to USD 78 per barrel as the Middle East supply worries and Houthi attacks continued in the Red Sea.

Indian rupee experienced a depreciation of 11 paise against the US dollar, settling provisionally at 83.32 amidst various factors impacting both global and domestic markets