The rupee rose by 3 paise to settle at 72.94 (provisional) in opposition to the US greenback on Monday, extending its features for the fifth straight session regardless of heavy promoting within the home fairness market.
At the interbank foreign exchange market, the rupee opened at 72.95 in opposition to the American foreign money, and hit an intraday excessive of 72.89 and a low of 72.96 in day commerce.
It lastly completed at 72.94, larger by 3 paise over its final shut. On Friday, the home foreign money had settled at 72.97 in opposition to the American foreign money.
The greenback index, which gauges the dollar’s energy in opposition to a basket of six currencies, superior 0.10 per cent to 90.32.
In phrases of the worldwide cues, the Federal Reserve’s coverage determination this week isn’t anticipated to be tame. In addition, markets can be watching the Fed’s steerage on charges and any outlook on its bond shopping for plan, analysts say.
Another key issue to be careful for the rupee is the Union Budget.
The home foreign money is more likely to strengthen 1.3 per cent and common 73.5 in opposition to the US greenback within the monetary yr 2022-23 in contrast with a median stage of 74.4 within the monetary yr 2021-22.
On the home fairness market entrance, the BSE Sensex ended 530.95 factors or 1.09 per cent decrease at 48,347.59, whereas the broader NSE Nifty declined 133 factors or 0.93 per cent to 14,238.90.
Foreign institutional buyers (FIIs) have been internet sellers within the capital market as they offloaded shares price ₹635.69 crore on a internet foundation on Friday, in keeping with trade information.
Brent crude futures, the worldwide oil benchmark, rose 0.65 per cent to $55.77 per barrel.