Rupee gains 15 paise against US dollar


PTI | Mumbai | Updated: 28-03-2023 20:56 IST | Created: 28-03-2023 20:56 IST
Rupee gains 15 paise against US dollar

The rupee appreciated 15 paise to settle at 82.16 against the US dollar on Tuesday supported by a weak American currency in the overseas market and fresh foreign fund inflows.

However, a muted trend in domestic equities dented investor sentiments and capped the sharp gains in the rupee, traders said.

At the interbank foreign exchange market, the local unit opened at 82.20 against the American currency and finally closed at 82.16 (provisional) against the greenback, registering a gain of 15 paise over its previous close of 82.31.

During the session, the rupee touched a high of 82.16 and a low of 82.28 against the dollar.

''Rupee traded positive as the dollar index weakness helped the rupee. The banking relief in the US on the back of SVB taken over by First Citizens Bank kept dollar prices weak helping the rupee gain,'' said Jateen Trivedi, VP Research Analyst at LKP Securities. The volatile range will continue in the rupee as 82.00 remains a strong hurdle for the rupee in the near term and 82.55 is the near-term support, Trivedi said.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.26 per cent to 102.59.

Global oil benchmark Brent crude futures declined 0.42 per cent to USD 77.79 per barrel.

On the domestic equity market front, the 30-share BSE Sensex declined 40.14 points or 0.07 per cent to end at 57,613.72, while the broader NSE Nifty fell 34.00 points or 0.2 per cent to 16,951.70.

Foreign Institutional Investors (FIIs) turned net buyers in the capital market on Tuesday as they bought shares worth Rs 1,531.13 crore, according to exchange data.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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