Rupee rises 9 paise to open at 82.65 against the US dollar
rupee depreciated 23 paise to close at a six-week low of 82.74 against the US dollar amid worries over more interest rate hikes by the Federal Reserve. Investors will focus on US inflation data for June that is due on Wednesday.
Falling crude oil prices also supported the Indian rupee. Crude oil prices fell after touching nine-week highs last week as top exporters Saudi Arabia and Russia announced fresh output cuts.
Brent futures fell 0.52% to $78.06 a barrel, while US West Texas Intermediate (WTI) crude dropped 0.57% to $73.44 a barrel. On the domestic front, the Indian benchmark equity indices were trading higher in the pre-opening session.
On Friday, Foreign Institutional Investors (FIIs) net bought Indian shares worth ₹790.40 crore, while Domestic Institutional Investors (DIIs) net sold shares worth ₹2,964.23 crore. Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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