Indian Rupee vs Dollar
Today both the indices of the Indian stock market have closed with gains.This morning also there was a rise in the rupee against the dollar. RBI’s monetary policy decision will be pronounced on August 10.
Dollar vs Rupees: In Monday’s session, the rupee closed with gains against the dollar. Today the rupee has gained 5 paise to close at 82.76. Forex traders said, however, continued outflow of foreign funds and a strong US currency in the overseas market weighed on investor sentiment.
Trading in rupees At the interbank forex market, the local unit opened at 82.73 against the US dollar and moved in the range of 82.71 to 82.77 during the day.
The rupee finally settled at 82.76 (provisional), up 5 paise from Friday’s previous closing level of 82.81.
From the technical side, spot USD/INR has given a bullish breakout on the weekly charts. It is eyeing an all-time high of 83.30 and may take support at the long term moving average line of 82.25. The dollar index, reflecting the strength of the US currency, rose 0.33 percent to 102.35. The dollar index shows the dollar’s position against the world’s six major currencies. Global oil benchmark Brent crude futures fell 0.94 per cent to USD 85.43 per barrel.
The Indian stock market today closed at 65,953.48 with the 30-share BSE Sensex rising 232.23 points or 0.35 per cent. The broader NSE Nifty rose 80.30 points, or 0.41 per cent, to 19,597.30. Foreign institutional investors (FIIs) sold shares worth Rs 556.32 crore on Friday, according to exchange data.
India’s foreign exchange reserves declined by USD 3,165 billion to USD 603.87 billion in the week ended July 28, the RBI said on Friday. This is the second consecutive weekly decline in the reserves after a decline of USD 1.987 billion to USD 607.035 billion in the previous week.