On Tuesday, the rupee settled at 77.34 against the US currency.
On Tuesday, the rupee settled at 77.34 against the US currency.
The rupee appreciated another 10 paise to trade at 77.24 (prelim) against the US dollar on Wednesday as the US currency retreated from 20-year highs.
In the interbank FX market, the domestic unit opened at 77.24 against the US dollar. It ranged from 77.17 to 77.31 during the day trade.
The rupee finally closed at 77.24, up 10 paise from its previous close. On Tuesday, the rupee settled at 77.34 against the US currency.
“The rupee consolidated in a tight range after falling to fresh all-time lows earlier this week. On the domestic front, market participants remained cautious on the inflation figures to be released on Thursday.
“It is expected that the number could exceed the 7% mark. From the US, the CPI figure is released and is expected to remain elevated as well,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
The dollar index traded below a 20-year high of 104.49, which it broke at 103.51 earlier this week ahead of the release of US inflation data.
In the domestic stock market, the 30-stock BSE Sensex ended 276.46 points, or 0.51%, lower at 54,088.39, while the broader NSE Nifty fell 72.95 points, or 0.45%, to 16,167.10.
Brent crude futures, the global oil benchmark, surged 3.26% to $105.80 a barrel.
Foreign institutional investors were net sellers in the capital market on Tuesday, selling ₹3,960.59 crore of shares, according to stock market data.
