Rupee opens flat against dollar on second day of business week, gains of 2 paise

Dollar vs Rupee Price Today: On the second day of the business week, the rupee opened flat against the dollar. The rupee had closed flat on the previous day as well. Today, a gain of 2 paise has been registered in the rupee. Today Rupee is trading at 82.61. In Monday's session, the rupee had closed up by 1 paise against the American currency.

Aug 29, 2023 - 12:59
Rupee opens flat against dollar on second day of business week, gains of 2 paise

With the weakening of the US dollar and the rise in the stock market, the rupee opened flat today. The rupee gained 2 paise to open at 82.61 against the dollar. Global crude oil prices have supported the rupee.

Forex traders say foreign fund outflows capped the rise in the rupee.

The domestic unit i.e. rupee opened at 82.58 on the interbank foreign exchange, then touched a low of 82.62. It subsequently traded at 82.61 against the greenback (dollar), showing a gain of 2 paise over its previous close. Let us tell you that on Monday, the rupee increased by 1 paise to close at 82.63 against the US dollar.

Forex analyst said the Indian currency was trading in a narrow range as market participants await US jobs data to be released on Friday. Besides, a close watch on the Chinese currency's reaction to the country's slowing factory output and other macroeconomic indicators weighed on the rupee.

The dollar index reflects the strength of six currencies. According to the Dollar Index, the dollar was trading 0.20 percent lower at 103.85. Global oil benchmark Brent crude futures fell 0.05 percent to USD 84.38 per barrel.

Today the stock market is open on the green mark. The BSE Sensex index of the stock market was trading higher by 182.08 points or 0.28 percent at 65,178.68. Whereas, the broader NSE Nifty advanced 53.65 points, or 0.28 percent, to 19,359.70.

Foreign institutional investors (FIIs) were net sellers in the capital market on Monday, according to exchange data. He sold shares worth Rs 1,393.25 crore.

Muskan Kumawat Journalist & Writer