On Friday, the rupee rose 10 paise to trade at 75.93 against the US dollar
On Friday, the rupee rose 10 paise to trade at 75.93 against the US dollar
The rupee appreciated 14 paise to 75.79 against the US dollar at the open on Monday, amid a slide in crude oil prices.
On the interbank foreign exchange exchange, the rupee opened at 75.94 against the US dollar, then gained further ground to trade at 75.79, up 14 paise from the last close.
On Friday, the rupee rose 10 paise to trade at 75.93 against the US dollar.
The dollar index, which measures the greenback’s strength against a basket of six currencies, traded 0.13% higher to 99.92.
Most Asian and emerging market peers are trading weaker against the US dollar this Monday morning and could weigh on sentiment, but subdued crude oil prices will limit the downward trend, said Sriram Iyer, senior research analyst at Reliance Securities.
However, the big trigger for markets will be Tuesday’s Indian and US CPI inflation data, Mr Iyer said.
“India’s central bank last week shifted its main focus away from economic growth to curbing inflationary risks in Asia’s third-largest economy, reflecting the urgency to contain rising domestic price pressures as the Ukraine conflict spills over,” noted Mr. Iyer.
On the domestic stockmarket front, the 30-piece Sensex was down 322.35 points, or 0.54%, to 59,124.83, while the broader NSE Nifty was down 73.70 points, or 0.41%, to 17,710.65.
Global oil benchmark Brent crude futures fell 2.33% to $100.39 a barrel.
Foreign institutional investors were net sellers in the capital market on Friday, selling 575.04 crore of shares, according to stock market data.
