Rupee falls 17 paise to open at 83.21 against the US dollar
rupee ended 15 paise higher at 83.04 a dollar. Indian financial markets were closed on Monday for a public holiday.
Also Read: Rocky rupee drives NSE volumes to record high US Federal Reserve officials also struck a hawkish tone and signalled that the central bank most likely is not done raising interest rates, Reuters reported. “I suspect we may well need to raise the Fed funds rate once more this year and then hold it there for some time," Federal Reserve Bank of Cleveland President Loretta Mester said.
Asian currencies were weaker, with the Indonesian rupiah and Thai baht leading losses. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Meanwhile, crude oil prices dropped to a three-week low on a strengthening US dollar and as traders opted for profit taking after last quarter’s hefty gains.
Brent futures fell 1.09% to $89.72 a barrel, while US West Texas Intermediate crude (WTI) declined 1.02% to $87.91 per barrel. On the domestic front, the Indian stock market indices, Sensex and Nifty 50, were trading flat in the pre-opening session.
On Friday, the Foreign institutional investors (FIIs) net sold Indian shares worth ₹1,685.70 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹2,751.49 crore, as per provisional data available on the exchanges. Catch Live Market Updates here"Exciting news! Mint is now on WhatsApp Channels
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