25 C
Guwahati
Wednesday, October 16, 2024

Rupee ends 1 paisa lower at 83.38 against US dollar

- Advertisement -
- Advertisement -

MUMBAI, Dec 12: The rupee consolidated in a narrow range and settled 1 paisa lower at 83.38 (provisional) against the US dollar on Tuesday, as investors preferred to remain cautious ahead of the domestic inflation data release and upcoming US Fed meeting.

Besides, selling pressure in the domestic equity markets dented market sentiments, forex traders said.

- Advertisement -

However, a weaker American currency against major currencies overseas restricted the loss in the local currency, they added.

At the interbank foreign exchange market, the local unit opened at 83.36 and settled at 83.38 (provisional) against the greenback, registering a loss of 1 paisa from its previous close.

During intra-day, the rupee touched a high of 83.35 and hit the lowest level of 83.39.

On Monday, the domestic currency settled at 83.37 against the US dollar.

- Advertisement -

Investors largely remained concerned over the domestic inflation data as well as industrial production numbers to be announced later in the day.

Currency traders were also awaiting the US Federal Reserve’s monetary policy decision likely to be announced later this week.

“The upcoming focus is on the US CPI data in the evening, with expectations of 0.3 per cent on a month-on-month basis and a lower year-on-year figure at 3.1 per cent. Anticipating mixed reactions, the rupee seems unaffected, persisting within the broad range of 83.30-83.45,” Jateen Trivedi, VP Research Analyst at LKP Securities, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.28 per cent lower at 103.41 on Tuesday.

- Advertisement -

Brent crude futures, the global oil benchmark, advanced 0.34 per cent to USD 76.29 per barrel.

On the domestic equity market front, the 30-share benchmark BSE Sensex plunged 377.50 points, or 0.54 per cent, to settle at 69,551.03 points. The Nifty also fell 90.70 points, or 0.43 per cent, to 20,906.40 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Monday as they bought shares worth Rs 1,261.13 crore, according to exchange data. (PTI)

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
Explore The Charm Of Shillong During The Cherry Blossom Season 7 Perfect Gateways For A 3-Day Escape In South India 8 No-fuss South Indian Recipes For A Comforting Lunch 12 Foods That Ratan Tata Loved The Most 8 Must Visit Destinations In The Seven Sisters Of India