The rupee is down 40 paise, and closes at 79.64 against the U.S. dollar
In the market for foreign exchange interbank the currency of the country opened in a weak state, trading at 79.50 per dollar
August 09, 2022 09:16
The rupee plunged 40 paise , closing in the range of 79.64 (provisional) in relation to the U.S. dollar on Monday with a waning interest in risk in investors.
Lower crude prices globally and a surge in the domestic equity markets helped limit losses, to a certain extent. Forex dealers claimed.
In the international market for foreign exchange, the local currency started with a weak price of 79.50 for a dollar. The currency fluctuated between a peak of 79.45 and an ebb of 79.65 throughout the trading session.
The final price was 79.64 it was down 40p from its previous closing of 79.24.
Its dollar index that gauges the strength of the greenback versus an array of six currencies it dipped 0.25 percent to 106.57.
Brent crude crude, the world oil benchmark, fell 0.54 percent in the range of $94.38 each barrel.
On the equity market in the US on the front on the domestic equity market, the BSE Sensex ended 465.14 points or 0.80 percent higher at 58,853.07 and the wider NSE Nifty advanced 127.60 points or 0.73 percent to 17,525.10.
Foreign institutional investors were net buyers on capital markets on Friday, as they bought shares for Rs1,605.81 crore, according to the exchange data.
After becoming net buyers last month, investors from abroad maintained their optimism about Indian equity markets and invested more than $14,000 crore during the beginning of August, despite slowing down of USD index.
This was much higher than the total investment of close to Rs5,000 crore in the hands of Foreign Portfolio Investors (FPIs) throughout July deposits data showed.
