The rupee is 2 money higher at 85.38 against the US dollar

Mumbai, May 28 (PTI) Rs.

Forex traders said that the rupee was opened on a weak note on a high note on weak domestic markets and crude oil prices. However, it recovered from the lower levels as the US dollar softened in the latter part of the index session.

In the interbank foreign currency, the domestic unit opened at 85.59 and went between 85.33 and against Greenback of 85.72.

The local unit finished the session at 85.38 against the dollar, which was more than 2 money from its previous bandh.

On Tuesday, the rupee shut down 30 money at 85.40 against Greenback.

“Indian rupee traded on a flat note on Wednesday. The rupee opened on a weak note on weak domestic markets and crude oil prices. However, it recovered from the lower levels, as the US dollar became softened in the latter part of the index session,” said the research analyst of Mirre Asset.

Chaudhary further stated that “the demand for the end of the month from importers can weigh the rupee on the rupee. However, the weak tone in the greenback may support the rupee. The USDINR spot price is expected to trade within the range of 85.10 to 85.70.” Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.16 percent at 99.68.

Global oil benchmark, Brent crude, futures increased by 1.39 percent in USD 64.98 per barrel.

In the domestic equity market, the 30-chair BSE Sensx fell 239.31 points or 0.29 percent to close at 81,312.32, while the Nifty fell 73.75 points or 0.30 percent to 24,752.45.

According to exchange data, foreign institutional investors (FII) on Wednesday bought equity of Rs 4,662.92 crore on a pure basis.

According to the official data released on Wednesday, on the domestic macroeconomic front, India’s industrial production growth increased to 2.7 percent in April 2025. PTI HVA DRR

This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.