Business & Investment

Rupee soars 14 Paisa to 73.62 in positive stocks as US dollar weakens

In Thursday’s opening price, the domestic currency rose 14 Paisa to 73.62 per US dollar as sustained inflows of foreign capital and busy buying of domestic stocks strengthened investor sentiment. The weak US dollar in overseas markets also supported the domestic unit.

The rupee opened at 73.66 against the US dollar in the interbank foreign exchange market and then rose 14 Paisa against the dollar to 73.62, above the previous closing price.

On Wednesday, the rupee eased most of its initial losses and tracked the rebound of domestic stocks, settling at 73.76 per US dollar at Paisa’s highs on day eight.

Meanwhile, the dollar index fell 0.20 percent against the basket of six currencies to 90.22.

“The US dollar is trading on a weak note as risk appetite rises in anticipation of the imminent Brexit trade agreement between the UK and the European Union, and Asian currencies are trading flat to strong,” Reliance Securities said in a research note. I was able to support domestic units with this morning’s greenback. ”

In terms of the domestic stock market, Thursday’s market index traded bullish three times in a row, with global equities booming. Sensex rose 403 points to 46,847 and Nifty rose 114 points to 13,715.

According to preliminary data, foreign portfolio investors (FPI) bought shares worth Rs 536.13, and domestic institutional investors (DII) sold net sales of Rs 1,326.92 on the Indian stock market on December 23.

Brent crude oil futures, the global oil benchmark, rose 0.68% to US $ 51.55 per barrel. Crude oil prices have risen as US crude oil inventories have fallen, raising expectations for a recovery in fuel demand. US crude oil inventories fell by 562,000 barrels in the week leading up to December 18.

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Rupee soars 14 Paisa to 73.62 in positive stocks as US dollar weakens

https://www.businesstoday.in/markets/commodities/rupee-surges-14-paise-to-7362-amid-weak-us-dollar-positive-equities/story/425870.html Rupee soars 14 Paisa to 73.62 in positive stocks as US dollar weakens

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