Adversitement
Rupee Declines 5 Paise to 82.95 Against US Dollar Amid Firm Crude Oil Prices and Foreign Fund Outflows
Published On : 2024-03-19T10:50:10+0530 [ IST ] |
Author : Mayur_Tembhare
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Key Points:
- The Indian rupee depreciated by 5 paise against the US dollar, reaching 82.95.
- Factors contributing to the decline include firm crude oil prices and foreign fund outflows.
- The rupee opened at 82.94 and traded in a tight range of 82.93 to 82.95 in early trading.
- A stronger US dollar and firm bond yields ahead of the US Fed interest rate decision also weighed on the rupee.
- Brent crude trading above $86 per barrel further added pressure on the rupee.
- Losses in local stocks also contributed to the rupee's decline.
- Foreign investors" target="_blank">institutional investors offloaded equities worth ₹2,051.09 crore on Monday, according to exchange data.
Source : Interbank foreign exchange market, forex dealers, US dollar index, Brent crude, benchmark BSE Sensex, Nifty, foreign investors" target="_blank">institutional investors (FIIs), exchange data.
Tags : US Fed interest rate decision. , Brent crude , Stock Market , foreign institutional investors (FIIs) , Rupee , crude oil prices , US dollar , foreign fund outflows , forex market ,
Summary : The Indian rupee depreciated by 5 paise against the US dollar, reaching 82.95, attributed to firm crude oil prices and foreign fund outflows. Opening at 82.94, the rupee experienced a tight range of 82.93 to 82.95 in early trading. Factors including a stronger US dollar, firm bond yields ahead of the US Fed interest rate decision, and Brent crude trading above $86 per barrel contributed to the rupee's decline. Additionally, losses in local stocks and foreign investors" target="_blank">institutional investors offloading equities worth ₹2,051.09 crore added pressure on the rupee.
Adversitement