News India Live, Digital Desk: Rupee vs dollar: The rupee rose by three days to close at 85.45 per dollar on Friday, due to a sharp decline in the dollar index and an increase in the risk of risking risk for risky assets for risky properties between domestic stock markets. Forex traders said that the rupee, which has fallen by 53 paise in the last three trading sessions, closed with significant advantage in the foreign market on Friday with significant advantage.
However, a slight improvement in crude oil prices and the withdrawal of foreign funds limited the trend of lead in local currency to some extent. The interbank foreign exchange market saw huge fluctuations in the rupee. It opened at 85.95 and then reached the highest level of Intra-Day 85.11 and the lowest level 86.10 against the US dollar.
The rupee closed at 85.45 at the end of the day, which is 50 paise more than the previous closed price. On Thursday, the rupee weakened by 36 paise to close at 85.95 against the US dollar.
Research analyst Anuj Chaudhary of Miraye Asset Sharekhan said, “We hope that the rupee will trading with a positive trend due to the underlying weakness and improvement in the underlying weakness and global risk emotions in the index. However, it can curb rapid jump due to selling pressure from foreign investors.”
Chaudhary further stated that traders can take hints from the US from the existing home sales figures. He said, “The USD-InR spot price is expected to be traded within the radius of 85 to 85.70.” Meanwhile, the dollar index measuring the power of the dollar against the basket of six currencies was trading at 99.36, declining 0.60 percent due to an increase in the ability to risk in global markets and strengthening of risky currencies. The reduction in the US Treasury Yield also put pressure on the dollar.
Dilip Parmar, Senior Research analyst of HDFC Securities, said the rupee experienced its biggest single-day lead since November 11, 2022. “It was inspired by the upwards of the upwards, the weakened US dollar and strong performance in the domestic equity market. In addition, the central bank’s efforts to encourage foreign investment in corporate bonds further enhanced the appreciation of the rupee by providing short-term liquidity. Given further, the spot USD-INR is expected to support the support on 84.94 and the resistance on 86.15.”
Global oil standard brent crude futures fell 0.22 percent to $ 64.30 per barrel. The 30 -share BSE Sensex in the domestic stock market rose 769.09 points or 0.95 percent to close at 81,721.08, while the Nifty rose 243.45 points or 0.99 percent to 24,853.15.
According to exchange data, foreign institutional investors (FIIs) on Friday bought equity worth Rs 1,794.59 crore on a pure basis. The Reserve Bank of India said on Friday that India’s foreign exchange reserves declined by $ 4.888 billion to $ 685.729 billion during the week ended May 16.
Lemon Water Health Tips: These disadvantages can occur with weight loss, know the right way
