Rupee gains 5 paise to open at 83.05 against the US dollar
lending rate by 10 basis points, lower than expected 15 bps reduction. The five-year lending rate was left unchanged.
On Friday, the rupee ended 5 paise higher at 83.10 a dollar. However, elevated crude oil prices, weakness in the domestic equity market and FII outflows weighed on rupee, keeping it near an all-time low of 83.29 a dollar.
Investors will focus on the Fed's Jackson Hole Economic Symposium this week. Catch Jio Financial Services Listing Live Updates here Crude oil prices rose.
Brent crude gained 0.80% to $85.48 a barrel, while US West Texas Intermediate crude jumped 0.89% to $81.97 a barrel. On the domestic front, the Indian equity indices, Sensex and Nifty were trading lower in the pre-opening session.
On Friday, the Foreign institutional investors (FIIs) net sold Indian shares worth ₹266.98 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹339.18 crore, as per provisional data available on the exchanges. Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
. Read more on livemint.com
