On April 4, the rupee had gained 21 paise to close at a one-month high of 75.53 against the US dollar.
On April 4, the rupee had gained 21 paise to close at a one-month high of 75.53 against the US dollar.
The rupee started on a flat note on April 5 in view of the strengthening of the dollar in the foreign market and the rise in crude oil prices.
At the interbank foreign exchange, the rupee opened at 75.54 against the US dollar and moved in a narrow range. It touched an opening high of 75.47 in opening deals.
On Monday, the rupee started with a boom in the financial year 2022-23. It rose 21 paise to close at a one-month high of 75.53 against the US Dollar,
Meanwhile, global oil benchmark Brent crude futures rose 1.27% to $108.90 a barrel as geopolitical uncertainty stemmed from a prolonged conflict in Ukraine.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03% to 99.02, as the prospect of mounting sanctions on Russia prompted investors to protect the greenback.
Feather domestic equity market Up front, the 30-share Sensex was trading 248.08 points or 0.41% lower at 60,363.66, while the broader NSE Nifty fell 55.45 points or 0.31% to end at 17,997.95.
Foreign institutional investors remained net buyers in the capital market on Monday as they bought shares worth Rs 1,152.21 crore, according to stock exchange data.
“Oil back near 110 and opening lower at 75.45 for USD-INR indicates inflow into the system. The range of 75.20 to 75.60, said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors, awaiting the decision of the US Fed minutes on Wednesday and the MPC meeting on April 8.
Bhansali also said that “the fighting in Ukraine has stopped for the time being, but it may flare up as the West keeps imposing sanctions on Russia”.