In the interbank forex market, the rupee opened stronger against the greenback at ₹77.98 and saw an intra-day high of ₹77.87 and a low of ₹78.03.
In the interbank forex market, the rupee opened stronger against the greenback at ₹77.98 and saw an intra-day high of ₹77.87 and a low of ₹78.03.
Rupee gains 7 paise to close at ₹77.98 against US dollar on Monday Because crude oil prices retreated from higher levels.
However, unhindered outflow of foreign funds limited the appreciation bias in the rupee, forex dealers said.
on interbank forex MarketRupee opened strong against greenback at ₹77.98 and saw intra-day high ₹77.87 and low ₹78.03.
It finally closed at ₹77.98, 7 paise higher than its previous close of ₹78.05.
“Rupee consolidated in a broad range despite volatility in domestic and global equities. The Fed projection showed economic growth slowing to a below trend rate of 1.7%,” said Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services.
On the domestic equity market front, the BSE Sensex closed 237.42 points or 0.46% higher at 51,597.84, while the broader NSE Nifty ended 56.65 points or 0.37% higher at 15,350.15.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.37% at 104.31.
Global oil benchmark Brent crude futures fell 0.11% to $112.99 a barrel.
Foreign institutional investors were net sellers in the capital markets on Friday as they sold shares worth Rs 7,818.61 crore, according to exchange data.