Rupee slips 4 paise to close at 73.68 against US dollar
The rupee finally settled at 73.68 against the American currency, down 4 paise over its previous close.
The Indian rupee slipped 4 paise to close at 73.68 (provisional) against the US dollar on Friday, following weaker Asian peers against the American currency.
At the interbank foreign exchange market, the local currency opened at 73.77. It touched an intra-day high of 73.61 and a low of 73.78 during the day.
The rupee finally settled at 73.68 against the American currency, down 4 paise over its previous close.
In the previous session on Thursday, the rupee had closed at 73.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 93.14.
"The Indian rupee depreciated following weakness in Asian peers and rebound in the dollar after risk-off moods. Markets appear to have taken the decision of Federal Open Market Committee (FOMC) as hawkish as Treasuries moved higher while risk assets seen long unwinding," said Dilip Parmar, Research Analyst, HDFC Securities.
Spot USD/INR is expected to trade in the range of 73.40 to 73.95 following month-end dollar demand and risk-off tones.
"Data docket remains light today amid the weekend, though plenty of Fed speakers will be on the wire which could bring back volatility in forex markets," Parmar added.
Brent crude futures, the global oil benchmark, advanced 0.25 per cent to USD 77.44 per barrel.
See Zee Business Live TV Streaming Below:
On the domestic equity market front, the BSE Sensex ended 163.11 points or 0.27 per cent higher at a lifetime high of 60,048.47. Similarly, the broader NSE Nifty advanced 30.25 points or 0.17 per cent to close at a record 17,853.20.
Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 357.93 crore, as per exchange data.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
06:00 PM IST