spot_img
Tuesday, June 28, 2022
No menu items!
More
    spot_img
    HomeBusinessRupee gains 7 paise to close at 77.98 against US dollar

    Rupee gains 7 paise to close at 77.98 against US dollar

    -

    Forex

    PTI | Mumbai, June 20 | Updated on: Jun 20, 2022

    The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.37 per cent at 104.31

    The rupee appreciated by 7 paise to settle at 77.98 (provisional) against the US dollar on Monday as crude oil prices retreated from elevated levels.

    However, unabated foreign fund outflows restricted the appreciation bias in the rupee, forex dealers said.

    At the interbank forex market, the local unit opened strong at 77.98 against the greenback and witnessed an intra-day high of 77.87 and a low of 78.03.

    It finally settled at 77.98, a rise of 7 paise over its previous close of 78.05.

    “Rupee consolidated in a broad range despite volatility in domestic and global equities. Fed projection showed economic growth slowing to a below-trend rate of 1.7 per cent,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

    On the domestic equity market front, the BSE Sensex ended 237.42 points or 0.46 per cent higher at 51,597.84, while the broader NSE Nifty advanced 56.65 points or 0.37 per cent to 15,350.15.

    The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.37 per cent at 104.31.

    Brent crude futures, the global oil benchmark, fell 0.11 per cent to $112.99 per barrel.

    Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth ₹7,818.61 crore, as per exchange data.

    Published on June 20, 2022

    You May Also Like

    Recommended for you

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    3,370FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts