Rupee Closes 32 Paise Higher Against US Dollar
The rupee gained 32 paise to close at 82.27 (provisional) against the US dollar on Thursday, tracking the weakness of the American currency in the overseas market.
Traders said the weak US Dollar and decline in US Treasury yields on the back of dovish Federal Open Market Committee (FOMC) boosted investor sentiments.
The 25 basis points interest rate hike by the US Federal Reserve was on the expected lines, and the declining crude oil prices boosted the overall sentiments, they added.
At the interbank foreign exchange, the domestic unit opened strong at 82.38 against the dollar and gained further ground and finally settled at 82.27 (provisional) against the American currency, registering a gain of 32 paise against its previous close.
In intra-day trade, the rupee touched a high of 82.08 and hit the lowest level of 82.41 against the greenback.
On Tuesday, the rupee settled at 82.59 against the US dollar.
The foreign exchange market was closed on Wednesday on account of Gudi Padwa.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 102.31.
Global oil benchmark Brent crude futures declined by 0.93 per cent to USD 75.98 per barrel.
The 30-share BSE Sensex closed 289.31 points or 0.50 per cent lower at 57,925.28 points while the broader NSE Nifty fell 75.00 points or 0.44 per cent to 17,076.90 points.
Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market on Wednesday as they purchased shares worth Rs 61.72 crore, according to exchange data.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
