Dollar Vs Rupee: Rupee opened flat against dollar, trading at 83.02
Dollar to Rupee Rate: Today the stock market is trading on the green mark. At the same time, the rupee is trading in a limited range against the dollar. According to foreign exchange traders, the dollar strengthened after the release of US inflation data. On the other hand, high global crude oil prices have also affected the rupee.
Stock Update: The rupee was seen trading in a limited range against the US dollar in early trade on Friday. Positive domestic equity support was negated by higher global crude prices and a stronger US currency.
Forex traders said the dollar strengthened after the release of US inflation numbers, which came in higher than expectations and weighed on the domestic unit. However, a bullish trend in domestic equities, with both the benchmark indices touching all-time highs, supported the rupee at lower levels.
The rupee was trading in a tight range in the interbank foreign exchange market. It opened at 83.02 against the dollar. In early trade, it reached a low of 83.07 against the US currency, which is 4 paise less than its previous close.
On Thursday, the rupee fell 2 paise to close at 83.03 against the US dollar.
Forex traders said the rupee is likely to trade with a slight negative bias on expectations of further appreciation of the US dollar. Besides, higher crude oil prices and selling pressure from foreign investors may put further pressure on the rupee. However, any intervention by RBI and positive domestic markets may support the rupee at lower levels.
Meanwhile, the dollar index fell 0.15 percent to 105.28. Global oil benchmark Brent crude futures were trading 0.95 percent higher at US$94.59 per barrel.
Today BSE Sensex rose 102.84 points or 0.15 percent to 67,621.84. NSE Nifty was up 30.25 points or 0.15 percent at 20,133.35. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 294.69 crore on Thursday.
