Rupee depreciated 6 paise and settled at its all-time low of 83.64 (provisional) against the US dollar on Thursday, as the strength of the American currency in the overseas market and overnight surge in crude oil prices weighed on investor sentiments. Forex traders expect the rupee to trade with a slight negative bias on strong US dollar and weak Asian as well as European currencies. The US dollar strengthened, while the pound weakened amid disappointing labour market data from the UK.However, positive domestic markets and foreign fund inflows cushioned the downside in the domestic unit to a certain extent. At the interbank foreign exchange market, the local unit opened at 83.57, and touched an intraday high of 83.55 and a low of 83.66 against the dollar during the trading session. It finally settled at 83.64 (provisional) against the American currency, registering a loss of 6 paise from its previous close. On Tuesday, the rupee closed at 83.58 against the American currency. The rupee had witnessed its previous lowest closing level of 83.61 on July 15. Forex and equity markets were closed on Wednesday on account of Muharram. "A bounce back in crude oil prices may further pressurise the rupee. However, record high domestic equities and fresh foreign inflows may support the rupee at lower levels," said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.09 per cent at 103.83. Brent crude futures, the global oil benchmark, were trading marginally lower by 0.01 per cent at USD 85.07 per barrel. In the domestic equity market, the 30-share BSE Sensex jumped 626.91 points to settle at its all-time high of 81,343.46, while Nifty surged 187.85 points to a record peak of 24,800.85 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 1,271.45 crore, according to exchange data. Meanwhile, the Asian Development Bank (ADB) on Wednesday maintained India's GDP growth forecast at 7 per cent for the current financial year, citing that a rebound in agriculture is expected given above-normal monsoon projections. 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 Business Twitter and Facebook . Subscribe on YouTube . None
Popular Tags:
Share This Post:
![post](https://n.sarkariinfo.co.in/images/FtflQ76xIr0.jpeg)
Interarch Building Products: Shares see strong listing gains; lists at 44% premium on NSE
August 26, 2024![post](https://n.sarkariinfo.co.in/images/SBXRhOdBHG0.jpeg)
Interarch Building Products ipo listing price share price nse bse strong listing expected
August 26, 2024What’s New
Spotlight
Today’s Hot
Featured News
FIIs buy over 32 lakh shares of Eraaya Lifespaces via QIP
- By Sarkai Info
- August 14, 2024
Latest From This Week
This pharma company fixes record date for final dividend
MARKETS
- by Sarkai Info
- August 14, 2024
430% return in 2 years: Multibagger PSU stock gains after strong quarterly results
MARKETS
- by Sarkai Info
- August 14, 2024
Subscribe To Our Newsletter
No spam, notifications only about new products, updates.