Mumbai, June 11 (PTI) on Wednesday appreciated 4 money at 85.53 against the US dollar, supported by a weak American currency against major rivals abroad on Wednesday.
However, the investors stayed on the sideline before the CPI data release on Thursday, restricting the benefits in Indian currency, the traders said.
In the Interbank Foreign Exchange, the domestic unit opened at 85.53 and touched the intra-day high of 85.42 and the bottom of 85.56. It eventually settled at 85.53, 4 money from its previous completion of 85.57.
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“The rupee did a positive business … Supported by the activity of purchasing FII and DII, even the dollar index remained flat. While raw prices have increased, further appreciation was made, the flow of stable funds kept the rupee flexible. The currency is expected to move from 85.25.25.85.85 to 85.85.”
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, increased to 99.04 by 0.05 percent.
Treasury and Executive Director, Finerex Treasury Advisors LLP chief Anil Kumar Bhansali said, “Rupees have increased to 85.42 before retrieving … Another shortage and lower volume in trading … Everyone is waiting for the framework details fixed by the US-China delegation.”
Global oil benchmark, Brent crude, futures trading fell 0.09 percent to 66.81 per barrel USD 66.81.
In the domestic equity market, the 30-cheer BSE Sensex rose 123.42 points to 82,515.14, while the Nifty increased by 37.15 points to 25,141.40.
According to exchange data, foreign institutional investors (FII) on Wednesday launched a price of Rs 446.31 crore on a pure basis. PTI TRB HVA
This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.