Rupee recovered from initial loss
The rupee recovered from early losses on Thursday in the Interbank Forex Exchange Market and closed at 85.55 against the US dollar at 85.55. The strengthening of domestic currency came due to the dollar being weak and decreased on the American bonds against major currencies abroad.
Foreign currency traders said that the dollar declined due to weak data from the expectation of ADP non-agricultural employment from the US. He said that the decline in global crude oil prices also supported the local currency.
Rupee drowned, dollar shows color
The rupee opened at 85.69 against the US currency in the Interbank Forex Exchange Market and closed at 85.55 at the end after going to the highest level of 85.19 and a low of 85.70 during trading, which is a rise of seven paise to the last closed price. On Wednesday, the rupee fell three paise to close at 85.62 per dollar.
Rupee won some such reversal
Anuj Chaudhary, a research analyst at Mirae Asset Sharekhan, said, the Indian rupee rose on Friday due to the weakening of the US dollar and the decline in the US bonds on Friday. The fall in crude oil prices also strengthened the rupee. However, the profit of rupee was limited due to weakness in the local stock market.
Meanwhile, the dollar index, depicting a US dollar position, rose 0.05 percent to 96.82 against the world’s six major currencies. In futures trading, global oil standard Brent crude rose by 1.01 percent to $ 68.41 per barrel.
Chaudhary said, later, businessmen can take signs from the United States from the non-agricultural payroll report. The spot price of dollar/rupee is expected to be traded between 84.90 and 85.60. Meanwhile, the Sensex fell 170.22 points to 83,239.47 points in the domestic stock market, while the Nifty fell 48.10 points to close at 25,405.30 points.
According to the stock market data, foreign institutional investors (FIIs) remained pure selling in the capital market. He sold shares worth Rs 1,481.19 crore on a pure basis on Thursday.