Rupee falls 2 paise to 83.25 against US dollar in early trade
livemint.comrupee closed at 83.23 against the greenback. A firm US dollar and weak domestic equity markets pressurized the rupee, while overnight plunge in crude oil prices restricted the fall. “Rupee is expected to appreciate towards the 83.00 mark amid correction in the dollar and falling crude oil prices.
The weaker set of economic numbers from the US could weigh on the dollar. USDINR is likely to move back towards the 83.00 mark, as long as it stays under 83.30. Only move below 83.00 it would open the doors towards 82.80," ICICI Direct said in a note.
(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Brent crude futures, the global oil benchmark, recovered from overnight losses to trade higher by 0.12% at $77.51 per barrel. Brent crude futures for December delivery plunged up to 5% to a four-month low of $77.42 per barrel on Thursday as weak jobs data from the US led to worries about global oil demand. On the domestic front, the equity markets traded flat.
The Sensex was trading 4.39 points, or 0.01%, higher at 65,986.87, while the Nifty 50 rose 28.55 points, or 0.14%, to 19,793.75. According to exchange data, foreign institutional investors (FIIs) emerged as net buyers in the capital market on Thursday as they bought shares worth ₹957.25 crore. Catch Live Market Updates here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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