Rupee Climbs 12 Paise to 77.93 Against US Dollar

In the interbank foreign exchange market, the rupee opened strong at 77.98 against the US dollar, and then rose to 77.93, showing a gain of 12 paise over the previous closing price.

New Delhi: The rupee on Monday gained 12 paise to 77.93 against the US dollar in early trade on softening crude oil prices. Forex traders said though selling of foreign funds, a weak trend in the domestic equity market and a firming dollar overseas limited the gains in the rupee.

New Delhi: The rupee on Monday gained 12 paise to 77.93 against the US dollar in early trade on softening crude oil prices. Forex traders said though selling of foreign funds, a weak trend in the domestic equity market and a firming dollar overseas limited the gains in the rupee.

In the interbank foreign exchange market, the rupee opened strong at 77.98 against the US dollar, and then rose to 77.93, showing a gain of 12 paise over the previous closing price. The rupee had gained five paise to close at 78.05 in the previous session.

Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.30 per cent to 104.38. Global oil index Brent crude futures slipped 0.26 percent to $112.83 a barrel.

The stock market declined after the initial rally amid mixed global trends.
Major stock markets on Monday saw a decline after a strong start. During this, the Sensex rose 254 points, but within a few minutes the index lost its edge and went into the red.
The BSE index was trading 253.69 points higher at 51,614.11 in early trade, while the Nifty rose 69.6 points to 15,363.10.

The major indices, however, could not sustain this momentum and the Sensex was down 287.1 points at 51,073.32, while the Nifty was down 94.75 points at 15,198.75 till the time of writing the news.

Tata Steel, M&M, PowerGrid, Tech Mahindra, Larsen & Toubro and ICICI Bank were among the major losers in the Sensex pack.

On the other hand, HDFC, Hindustan Unilever, Sun Pharma and HDFC Bank saw gains.

Tokyo and Seoul were down in other Asian markets, while Shanghai and Hong Kong were trading in the green.

Meanwhile, Brent crude, the international oil index, fell 0.18 per cent to $112.95 a barrel.

Foreign institutional investors (FIIs) sold shares worth a net Rs 7,818.61 crore on Friday, according to provisional data from the stock market.

 

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Rupee Climbs 12 Praise to 77.93 Against US Dollar - /10

Summary

In the interbank foreign exchange market, the rupee opened strong at 77.98 against the US dollar, and then rose to 77.93, showing a gain of 12 paise over the previous closing price.

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