Mumbai: The rupee clawed back intra-day losses to close 7 paise higher at 81.40 against the US dollar on Thursday amid persistent foreign fund inflows and softer crude oil prices. At the interbank foreign exchange market, the local unit opened at 81.61 and witnessed a high of 81.38 and a low of 81.92. It finally settled at 81.40 against the American currency, up 7 paise over its last close of 81.47. This was the fourth straight session of gains for the local unit.
"Rupee came under pressure in the first half of the session ahead of the US inflation number...," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Also, market participants remained cautious ahead of mid-term election results.
"Some market participants suggest a strong chance of Republicans winning a House majority and a tight race for Senate control. We expect the USD-INR (Spot) to trade sideways and quote in the range of 81.30 and 81.80," Somaiya added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 110.70. International oil benchmark Brent crude slipped 0.06 per cent to USD 92.59 per barrel.
On the domestic equity market front, the 30-share BSE Sensex fell 419.85 points or 0.69 per cent to end at 60,613.70, while the broader NSE Nifty declined 128.80 points or 0.71 per cent to 18,028.20. Foreign Institutional Investors (FIIs) remained net buyers in capital markets as they purchased shares worth Rs 36.06 crore on Thursday, according to exchange data. (PTI)
(This story has not been edited by ETV Bharat and is auto-generated from a syndicated feed.)
