Rupee opens 6 paise lower at 82.01 against the US dollar
rupee ended 4 paise lower at 81.95 a dollar. Market participants remain watchful of the US Federal Reserve and the European Central Bank policy meet this week which are widely expected to hike rates this week.
The Fed is almost certain to raise rates by 25 basis points and economists expect the US central bank to maintain a hawkish tone. Crude oil prices declined, limiting losses in the domestic currency.
Brent crude futures fell 0.07% to $81.01 a barrel, while US West Texas Intermediate crude declined 0.08% to $77.01 a barrel. On the domestic front, the Indian benchmark 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 ₹1,998.77 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹1,290.73 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!
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