Rupee increases 5 paise to 82.46 US cents
Early Friday trading saw the rupee rise 5 paise to 82.46 versus the US dollar as favourable tendencies were seen in the stock markets.
Forex dealers said that the Indian rupee was supported by both the lowering price of petroleum and the flood of foreign capital into local equity markets.
The local currency at the interbank foreign exchange started out well at 82.49 and reached a high of 82.45.
Later, it traded at 82.46, gaining 5 paise from where it closed the previous day.
The rupee’s exchange rate versus the dollar on Thursday was 82.51.
Experts claim that the Reserve Bank of India’s monetary policy decision to continue an interest rate halt on Thursday was on target, which improved the mood.
The RBI maintained the benchmark interest rate at 6.50 percent on Thursday.
Investors were worried about the US Federal Reserve’s interest rate decision, which will be made public next week.
The dollar index, which measures how strong the dollar is relative to a basket of six other currencies, increased 0.04 percent to 103.38.
The benchmark for world oil, Brent crude futures, dropped 0.50% to USD 75.58 a barrel.
The 30-share BSE Sensex was up 25.29 points, or 0.04 percent, to 62,873.93 on the domestic equities market. The NSE Nifty index as a whole increased 7.45 points, or 0.04 percent, to 18,642.00.
According to exchange statistics, Foreign Institutional Investors (FIIs) were net purchasers on Thursday in the capital markets, buying shares worth Rs 212.40 crore.
