Rupee Rises to 82.90 vs US Dollar Ahead of RBI Policy
By Rediff Money Desk, MUMBAI Feb 08, 2024 09:56
The Indian rupee appreciated 6 paise to 82.90 against the US dollar on Thursday ahead of the Reserve Bank of India's monetary policy decision.
![Rupee Rises to 82.90 vs US Dollar Ahead of RBI Policy](https://im.rediff.com/money/2016/sep/01rupee.jpg)
Mumbai, Feb 8 (PTI) The rupee appreciated 6 paise to 82.90 against the US dollar in early trade on Thursday ahead of the Reserve Bank's monetary policy decision.
At the interbank foreign exchange, the rupee opened at 82.94 against the dollar, then touched 82.90, registering a gain of 6 paise over its previous close.
On Wednesday, the rupee appreciated 9 paise to close at 82.96 against the dollar.
The Reserve Bank of India's Monetary Policy Committee (MPC) began the deliberations on Tuesday and the announcement on interest rate decision is expected at 1000 hours.
In a research note, wealth management firm IFA Global said RBI is expected to keep rates and policy stance unchanged. Statements on liquidity in the banking system and how RBI plans to manage the same will be closely followed, it added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 103.99.
Brent crude futures, the global oil benchmark, rose 0.39 per cent to USD 79.52 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 181.05 points or 0.25 per cent higher at 72,333.05 points. The broader NSE Nifty advanced 59.60 points or 0.27 per cent to 21,990.10 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,691.02 crore, according to exchange data.
At the interbank foreign exchange, the rupee opened at 82.94 against the dollar, then touched 82.90, registering a gain of 6 paise over its previous close.
On Wednesday, the rupee appreciated 9 paise to close at 82.96 against the dollar.
The Reserve Bank of India's Monetary Policy Committee (MPC) began the deliberations on Tuesday and the announcement on interest rate decision is expected at 1000 hours.
In a research note, wealth management firm IFA Global said RBI is expected to keep rates and policy stance unchanged. Statements on liquidity in the banking system and how RBI plans to manage the same will be closely followed, it added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 103.99.
Brent crude futures, the global oil benchmark, rose 0.39 per cent to USD 79.52 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 181.05 points or 0.25 per cent higher at 72,333.05 points. The broader NSE Nifty advanced 59.60 points or 0.27 per cent to 21,990.10 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,691.02 crore, according to exchange data.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...