On March 31, the last trading session of FY22, the rupee had gained 16 paise to close at 75.74 against the US dollar.
On March 31, the last trading session of FY22, the rupee had gained 16 paise to close at 75.74 against the US dollar.
The rupee started the financial year 2022-23 on a muted note amid a firm trend in the domestic equity market and rose by 3 paise to 75.71 against the US dollar in early trade on April 4.
At the interbank foreign exchange, the rupee opened at 75.77 against the US dollar, then touched an early high of 75.71, up 3 paise over its previous close. The local unit also moved up to 75.79 in opening deals.
Last business session of FY 22 on 31st March Rupee closes 16 paise higher at 75.74 against US dollar,
The local unit, however, closed the financial year 2021-22 with an overall loss of 3.61% or 264 paise against the US currency due to a stronger dollar and rise in crude oil prices.
The forex market was closed on Friday due to the closure of annual accounts of banks.
Global oil benchmark Brent crude futures rose 0.13% to $104.53 a barrel.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06% to 98.57.
Feather domestic equity market Up front, the 30-share Sensex was trading 1,462.66 points or 2.47% higher at 60,739.35, while the broader NSE Nifty was trading 393.75 points or 2.23% higher at 18,064.20.
Foreign institutional investors remained net buyers in the capital markets on Friday as they bought shares worth Rs 1,909.78 crore, according to stock exchange data.
On the domestic macroeconomic front, India’s current account deficit widened to $23 billion, or 2.7% of GDP, in the December quarter, according to the Reserve Bank of India.
The deficit in the second quarter of the fiscal year was $9.9 billion, or 1.3% of GDP, compared to $2.2 billion, or 0.3%, of GDP in the year-ago period, data from the balance of payments showed.
According to government data released on Thursday, the Centre’s fiscal deficit at the end of February stood at 82.7% of the full-year budget target, mainly on account of higher expenditure.