Indian Rupee Holds Steady as US Treasury Yields Surge

27 Sep 2023 , 10:36 AM

The Indian rupee showed no significant change against the US dollar at Wednesday’s trading session. This stability was observed despite the increasing US Treasury yields and rising crude oil prices.

The opening value of the rupee against the dollar was 83.23, matching the previous day’s closing value. The previous day saw a decrease of 8 paise in the rupee’s value, closing at 83.23 against the dollar. The rupee had reached its highest value recorded at 83.29 in October 2022.

Domestically, the benchmark equity indices in India, Sensex and Nifty 50, showed minimal movement in the pre-opening session. On the previous trading day, Foreign Institutional Investors (FIIs) were net sellers of Indian shares, amounting to Rs 693.47 crore. Conversely, Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 714.75 crore, based on provisional data from the exchanges.

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