Rupee Rises 1 Paisa Against US Dollar - Fed Holds Rates
Aug 01, 2024 09:47
The Indian rupee opened 1 paisa higher against the US dollar on Thursday, as the Federal Reserve kept interest rates unchanged. Brent crude oil prices rose, limiting gains for the domestic currency.
Mumbai, Aug 1 (PTI) The rupee opened 1 paisa higher at 83.67 against the US currency on Thursday after the Federal Reserve held the rates, but said a September rate cut could be on the table.
The US dollar declined marginally in overseas markets but Brent crude oil prices rose further, limiting gains for the domestic currency.
At the interbank currency exchange, the domestic currency opened at 83.67, 1 paisa higher than the previous day's close.
The domestic currency moved in a tight range of 83.67-83.69.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.13 per cent to 103.96 points.
Brent crude -- the global oil benchmark -- rose 2.26 per cent to USD 80.41 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex crossed the 82,000-mark for the first time, while Nifty touched a record high of 25,000.
Foreign institutional investors were net sellers in the capital markets on Wednesday and offloaded shares worth Rs 3,462.36 crore, according to exchange data.
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