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Rupee appreciated by 35 paise to 82.40 against US dollar

On Thursday, the rupee rose 35 paise to settle at 82.40 against the US dollar, as favorable macroeconomic data boosted market confidence. The local currency opened at 82.54 against the US dollar on the interbank foreign exchange market, with an intraday high of 82.36 and a low of 82.54. It eventually finished at 82.40, up 35 paise from the previous closing due to continued foreign money inflows. The rupee finished at 82.75 versus the US dollar on Wednesday. The dollar index, which measures the strength of the US currency against a basket of six currencies, declined 0.20 percent to 104.12. Brent crude futures rose 0.17 percent to USD 72.72 a barrel, the global oil benchmark.


Foreign institutions bought USD 4.5 billion of domestic stocks in May, the most since November. Though the spot USD-INR fell on Thursday, technical is signalling a continuation of the bullish trend, Parmar said, adding that looking ahead, traders will eye Friday’s US payrolls data ahead of the Federal Reserve’s June meeting. On the domestic equity market front, the 30-share BSE Sensex declined 193.70 points or 0.31 per cent to end at 62,428.54 points, and the broader NSE Nifty fell 46.65 points or 0.25 per cent to 18,487.75 points. Foreign Institutional Investors (FIIs) were sellers in the capital market on Thursday as they offloaded shares worth Rs 71.07 crore, according to exchange data.


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