Forex traders said positive domestic equities and sustained foreign fund inflows also supported the local unit
Forex traders said factors like positive domestic equities and weakness in crude oil prices also supported the local unit
Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3
Forex traders said a weak trend domestic equities also weighed on investor sentiments
Global oil benchmark Brent crude futures advanced 0.03 per cent to USD 92.68 per barrel
The rupee depreciated 17 paise to 81.64 against the US dollar in morning trade on Thursday, tracking weak domestic equities ahead of US inflation data
The rupee is likely to open at 81.55-81.60, compared with 81.4350 in the previous session
Indian currency at 1-month high on FPI flows, weak dollar
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Global oil benchmark Brent crude futures fell 0.41 per cent to USD 98.17 per barrel
India's forex reserves rose by $6.5 billion to $531.1 billion in the week through Oct. 28, marking their biggest weekly increase since September 2021, data released by the Reserve Bank of India showed
At the interbank foreign exchange, the domestic unit opened at 82.14 against the dollar, then gained further ground to touch 82.12, registering a rise of 23 paise over its previous close.
The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week
The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday
Asian currencies strengthened along with Asian stock markets amid speculation that China will relax its strict anti-Covid measures
In the holiday-shortened week that ended Oct. 28, the rupee rose to snap a run of six weeks of declines
On Thursday, the rupee had closed 8 paise lower at 82.88
The rupee appreciated 25 paise to 82.63 against the US dollar in early trade on Friday as the American currency retreated from its elevated levels