Rupee Closes At 1-Month High, Rises 48 Paise Against Dollar: 10 Things To Know
- At the forex market, the rupee moved in a range of 71.21 to 70.69 before finally ending at 70.70, showing a gain of 48 paise over its last close.Â
- On Monday, the rupee had ended at 71.18 against the dollar.
- At the end of Tuesday's trading session in the forex exchange, market was awaiting retail inflation and Industrial output numbers. Rupee appreciated on hopes of weak inflation data for December.Â
- However, rising crude prices, foreign fund outflows and heavy selling in domestic equities capped the gains, traders said.
- The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 97.01.
- According to the official data released after market hours, retail inflation eased further to 2.05 per cent in December from 2.11 per cent in November, raising hopes of further rate cut by the RBI to boost growth.
- Industrial production growth, on the other hand, remained subdued at 2.4 per cent in December due to weak performance of mining and manufacturing sectors. Â
- Foreign portfolio investors (FPIs) sold shares worth Rs 466.78 crore, and domestic institutional investors (DIIs) sold shares to the tune of Rs 122.64 crore on Tuesday, provisional data showed.  Â
- Brent crude, the global oil benchmark, was trading at $62.74 per barrel, higher by 2 per cent.  Â
- Domestic equity benchmarks, meanwhile, settled on a negative note. The S&P BSE Sensex fell 0.66 per cent or 241 points to 36,154 and the NSE Nifty 50 Index declined 0.5 per cent or 57 points to 10,831.
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