Rupee Steady vs US Dollar | Indian Rupee News
By Rediff Money Desk, MUMBAI Jan 30, 2024 10:22
The Indian Rupee traded in a narrow range against the US dollar on Tuesday, influenced by rising crude oil prices and domestic equity trends. Read more.
![Rupee Steady vs US Dollar | Indian Rupee News](https://im.rediff.com/money/2016/apr/21rupee.jpg)
Mumbai, Jan 30 (PTI) The rupee was trading in a narrow range against the US dollar in early trade on Tuesday, amid a negative trend in domestic equities.
Forex traders said the rupee was trading in a narrow range as rising crude oil prices weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.14 against the dollar and then touched a high of 83.13, and a low of 83.15.
On Monday, the rupee depreciated 5 paise to 83.16 against the US dollar.
"Overall markets are confined to a familiar range and nothing much is expected to happen before the FOMC delivers its verdict on interest rates tomorrow in its meeting starting today. The focus will also be on German and Eurozone GDP data," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45.
Brent crude futures, the global oil benchmark, rose 0.21 per cent to USD 82.59 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 134.51 points or 0.19 per cent lower at 71,807.06. The broader NSE Nifty declined 9.85 points or 0.05 per cent to 21,727.75.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 110.01 crore, according to exchange data.
Forex traders said the rupee was trading in a narrow range as rising crude oil prices weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.14 against the dollar and then touched a high of 83.13, and a low of 83.15.
On Monday, the rupee depreciated 5 paise to 83.16 against the US dollar.
"Overall markets are confined to a familiar range and nothing much is expected to happen before the FOMC delivers its verdict on interest rates tomorrow in its meeting starting today. The focus will also be on German and Eurozone GDP data," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45.
Brent crude futures, the global oil benchmark, rose 0.21 per cent to USD 82.59 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 134.51 points or 0.19 per cent lower at 71,807.06. The broader NSE Nifty declined 9.85 points or 0.05 per cent to 21,727.75.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 110.01 crore, according to exchange data.
Read More On:
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.
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Sawaca Business Mach
- 0.82 ( -4.65)
- 57749651
- Vodafone Idea L
- 17.39 ( -1.36)
- 36498363
- AvanceTechnologies
- 0.96 ( -4.95)
- 31715242
- G G Engineering
- 2.28 (+ 9.09)
- 27063044
- Shree Securities
- 0.38 ( -2.56)
- 21876645
MORE NEWS
![Air India Chooses...](https://im.rediff.com/80-80/money/2020/nov/23it.jpg)
Air India Chooses IBS Software's iCargo for...
Air India selects IBS Software's iCargo solution for digital transformation of its...
![Royal Enfield...](https://im.rediff.com/80-80/money/2016/aug/10enfield.jpg)
Royal Enfield Sales Dip 5% in June - Guerrilla...
Royal Enfield reports a 5% decline in total sales in June, with domestic sales down 2%...
![AJAX Engineering...](https://im.rediff.com/80-80/money/2017/may/30it.jpg)
AJAX Engineering Launches AI-Powered Concrete...
AJAX Engineering introduces Concrete GPT, an AI-driven platform for the construction...