The Indian rupee appreciated 22 paise to 74.76 against the US dollar in opening trade on Thursday, tracking a positive trend in domestic equities.
At the interbank foreign exchange, the rupee opened at 74.77 against the dollar, then inched higher to 74.76 registering a rise of 22 paise over its previous close.
On Wednesday, the Indian rupee suffered its biggest single-day drop in six months, losing 54 paise against the US dollar to end at 74.98.
Forex traders said market participants remain cautious also ahead of the important RBI policy statement that is scheduled to be released this Friday.
The Reserve Bank’s rate-setting panel started its three-day deliberations on the next bi-monthly monetary policy on Wednesday, amid rising global commodity prices and the need to contain inflation at home.
The decision of the six-member Monetary Policy Committee (MPC) would be announced on Friday by RBI Governor Shaktikanta Das.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 94.22.
Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 802.81 crore, as per exchange data.
On the domestic equity market front, BSE Sensex was trading 541.8 points or 0.92 per cent higher at 59,731.53, while the broader NSE Nifty advanced 162.90 points or 0.92 per cent to 17,808.90.
Global oil benchmark Brent crude futures fell 0.47 per cent to USD 80.70 per barrel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
Apple AirTag 4 Pack
$69.29 (as of December 22, 2024 19:33 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Crock-Pot Electric Lunch Box, 20-Ounce Portable Food Warmer, Black Licorice, Perfect for Travel, On-the-Go & Office Use | Stylish, Spill-Free & Dishwasher-Safe | Ideal Men & Women's Gifts
$34.99 (as of December 22, 2024 19:13 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Burt's Bees Lip Balm Stocking Stuffers, Moisturizing Lip Care Christmas Gifts, Original Beeswax with Vitamin E & Peppermint Oil, Natural Origin Lip Care (4-Pack)
$10.28 (as of December 22, 2024 19:33 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
All-new Amazon Kindle Paperwhite (16 GB) – Our fastest Kindle ever, with new 7" glare-free display and weeks of battery life – Black
$134.99 (as of December 22, 2024 19:05 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
