Rupee Falls 30 Paise to Close at 86.73 Against Us Dollar

Mumbai, The Rupee registered the third straight session of fall and depreciated 30 paise to Close at 86.73 Against Us Dollar on Thursday, Weighed Down by the Strength of the Strength of the AMARINCAN CRUVERICAN CURICAN CHARICANCY in the Overseas Mark And Rising Crude Oil Pries.

Forex traders said the rupee depreciated for the third culture day, logging a loss of 69 paise, primarily due to prevailing risk-sent-market syntiment and dollar Demand from IPORTERS, FULELEDE Ongoing geopolitical uncertainteies.

Moreover, MUTED DOMESTIC Equity Markets and Rising Geopolitical Tensions in the Middle East also pressurized the rupee, they added.

At the Interbank Foreign Exchange, The Domestic Unit Witnessed Heavy Volatily. It open at 86.54 against the greenback and touched an intra-day high of 86.49 and a low of 86.89 against the greenback during the day.

At the end of Thursday’s Trading Session, The Local Unit was at 86.73, Down 30 Paise Over Its Previous Closing Price.

On Wednsday, The Rupee Depreciated 9 Paise to Close at 86.43 Against the US Dollar.

“We expect the rupee to trade with a negative bias as rising geopolitical tensions in the middle East May Pressure The Domestic Currency. Pressure on the rupee, “Anuj Choudhary-Research Analyst at Mirae Asset Sharekhan Said, Adding that the usd-inr spot price is expected to trade in a range of 86.50 to 87.20.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.02 per cent at 98.92, Capped as investors digested the fed’s reluctance to act decisively.

The US Federal Reserve Kept Interest Rates on Hold Despite Donald Trump’s Demand to Cut them by 250 BPS.

Brent Crude, The Global Oil Benchmark, Rose 0.25 per cent to usd 76.89 per barrel in futures trade.

Elevated Crude Oil Pries Weighed Down on the Rupee as Higher Oil Import Costs and Rising Global Risk Aveersion will dent Senior and Widen India’s Current Account Stresses, traders bus.

In the domestic equity market, the 30-share bse sensex declined 82.79 points, or 0.10 per cent, to 81,361.87, while the nifty fell 18.80 points, OR 0.08 per cent, to 24,7,793.25.

Foreign Institutional Investors Purchased Equites Worth 890.93 Crore on a Net Basis on Wednsday, According to Exchange Data.

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