Rupee vs Dollar: Trading week opened with a rise of 10 paise in the rupee against the dollar

Rupee Vs Dollar Price Today: Rupee increased by 10 paise to reach 83.13 against the US dollar on the last day of the trading week. The rupee had closed down by 10 paise against the dollar on the previous day. Today the stock market is trading on the green mark. Let us tell you that global crude oil prices continue to fluctuate. Because of this, the rupee continues to fluctuate.

Sep 8, 2023 - 13:36
Rupee vs Dollar: Trading week opened with a rise of 10 paise in the rupee against the dollar

The rupee recovered from its all-time low in early trade on Friday tracking a positive trend in the equity market. Today, the US dollar rose by 10 paise to reach 83.13.

Forex traders said the rupee traded in a narrow range due to firmer crude prices and the strengthening of the American currency overseas, while positive domestic equities weighed down the losses.

At the Interbank Foreign Exchange, the domestic unit opened at 83.13, registering a rise of 10 paise over its previous close. The rupee depreciated 10 paise to hit an all-time low of 83.23 against the US dollar on Thursday.

Forex traders expect the rupee to trade with a negative bias due to a stronger dollar and higher crude oil prices. Disappointing European data may provide further support to the dollar.

The dollar index shows the strength of six currencies. According to the dollar index, the dollar declined marginally by 0.15 percent to 104.89. Meanwhile, global oil benchmark Brent crude futures fell 0.61 percent to USD 89.37 per barrel.

Today, the 30-share BSE Sensex was trading 168.59 points or 0.25 percent higher at 66,434.15. At the same time, the NSE Nifty rose 41.80 points or 0.21 percent to 19,768.85.

Foreign institutional investors (FIIs) were net sellers in the capital market on Thursday as they sold shares worth Rs 758.55 crore, according to exchange data.

Muskan Kumawat Journalist & Writer