On Wednesday, the rupee strengthened by 45 paise to settle at 81.47 (provisional) against the US dollar due to declining crude oil prices, a weaker US dollar, and persistent inflows of foreign funds.
The local unit at the interbank foreign currency market started the day at 81.43 and finished the session with an intraday high of 81.23 and a low of 81.62. The local currency eventually increased 45 paise from its previous close to settling at 81.47 against the US dollar.
The rupee had a Monday closing value of 81.92 against the US dollar. On Tuesday, the FX market was closed in observance of "Gurunanak Jayanti." The dollar index, which measures the dollar value against a basket of six different currencies, increased 0.18% to 109.83. Benchmark Brent crude futures for world oil decreased by 0.64 % to USD 94.75 per barrel.
The 30-share BSE Sensex sank 151.60 points or 0.25 % to end at 61,033.55 on the domestic equities market, while the larger NSE Nifty dropped 45.80 points or 0.25 % to 18,157.00. According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers on the capital markets on Monday, buying shares worth Rs1,948.51 crore.
The US Federal committee's meeting will conclude on March 16, 2022.
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