At the interbank foreign exchange market, the local unit opened at 83.32 and oscillated between the intra-day peak of 83.30 and the lowest level of 83.40 against the greenback. The local unit finally settled at 83.39 (provisional), registering a loss of 6 paise from its previous close.
On Wednesday, the rupee declined 4 paise to close at 83.33 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.34 per cent higher at 104.42.
“We expect the rupee to trade with a slight negative bias on strong US dollar and weak Asian currencies. Demand for dollars from importers and OMCs towards the end of the financial year may put downside pressure also weigh on the rupee.
“However, strong domestic markets may support the rupee at lower levels. Traders may take cues from final GDP, weekly unemployment claims, pending home sales and revised consumer sentiment data from the US. USD-INR spot price is expected to trade in a range of Rs 83.20 to Rs 83.70,” Choudhary said.
Brent crude futures, the global oil benchmark, rose 0.52 per cent to
On the domestic equity market front, Sensex surged 655.04 points, or 0.90 per cent, to settle at 73,651.35 points. The Nifty rose 203.25 points, or 0.92 per cent, to close at 22,326.90 points.
Foreign institutional investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 2,170.32 crore, according to exchange data.
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