Rupee trades flat at 83.26 against the US dollar
rupee settled at 83.25 against the US dollar. Sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments, forex traders said. Also Read: As optimism turns to caution in stock markets, what should retail investors do now? “Asian currencies are slightly lower while European currencies continue to remain on the lower side as the dollar index is near 106.57.
Brent oil at $88.43 per barrel and gold crossed $2,000 per ounce," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Crude oil prices declined, supporting the rupee. Brent crude declined 1.36% to $89.25 a barrel, while US West Texas Intermediate crude dropped 1.54% to $84.22 a barrel.
On the domestic front, the stock market indices traded volatile amid weak global cues. The 30-share BSE Sensex was trading 178.31 points, or 0.28%, higher at 63,961.11, while the broader NSE Nifty 50 rose 44.50 points, or 0.23%, to 19,091.75. Also Read: ITR filing: How to report crypto income in income tax return after addition of new VDA schedule? Meanwhile, India's forex reserves declined by $2.36 billion to $583.53 billion during the week ended October 20, according to the Reserve Bank of India data.
Read more on livemint.com
