Rupee settles flat at 72.55 against US dollar
PTI
Mumbai |
Updated on
The rupee closed flat 72.55 (provisional) against the US dollar on Wednesday as selling pressure in domestic equity markets weighed on investor sentiment.
Losses in the equity markets and a strengthening dollar against major currencies overseas kept the pressure on the rupee, forex traders said.
At the interbank forex market, the local unit opened almost flat at 72.56 against the greenback and witnessed an intra-day high of 72.51 and a low of 72.62.
It finally ended unchanged at 72.55 against the American currency, compared to its previous close.
The dollar index, which gauges the greenback s strength against a basket of six currencies, advanced 0.03 per cent to 91.91.
BL Research Bureau
Backed by steady foreign inflows, the rupee has been gradually appreciating since the beginning of the current calendar year; the year-to-date (YTD) gain versus the dollar stands at 0.7 per cent and had the Reserve Bank of India (RBI) not diverted the incoming dollars into foreign reserves by buying those dollars and selling rupee, the gain could have been much higher.
The National Securities Depository Limited (NSDL) data shows that the net investments by Foreign Portfolio Investors (FPIs) for the year now stands at ₹34,295 crore. But noticeably, March has seen a net outflow so far, which calls for caution. Equities has remained the favourites for the FPIs as the net inflow now stands at ₹47,659 crore whereas debt segment has seen a net outflow of ₹18,678 crore. Inflows through voluntary retirement route and hybrid category stands at ₹5,210 crore and ₹106 crore, respectively.
The rupee clawed back lost ground towards the fag-end of the session and settled with a marginal 2 paise gain at 72.97 against the US dollar on Friday, supported by easing crude oil prices.At the inte
BL Research BureauThe rupee (USD) appreciated last session and gained one-fifth of a per cent as it closed at 73.02 versus Tuesday’s close of 73.17 against the dollar (USD). Extending the forward move