Rupee gains 32 paise to 80.98 / $

1 Dec 2022 , 12:53 PM

Early on Thursday, after Federal Reserve Chairman Jerome Powell warned the rate of interest rate increases might decrease, the rupee strengthened 32 paise to 80.98 against the US dollar. The local unit started at 81.08 versus the dollar on the interbank foreign exchange but later increased by 32 paise to reach 80.98, up from its previous close.

Due to dollar selling by exporters at month’s end and inflows connected to MSCI rebalancing, the rupee appreciated by 42 paise on Wednesday to close at 81.30 against the US dollar. The dollar index, a measure of the dollar’s strength versus a basket of six different currencies, decreased by 0.27 % to 105.66.

The 30-share BSE Sensex, which measures domestic equities, was up 432.09 points, or 0.68 %, at 63,531.74 on the domestic equity market. The NSE Nifty index increased 118.15 points or 0.63 % to 18,876.50. According to exchange data, Foreign Institutional Investors (FIIs) purchased shares worth Rs 9,010.41 crore on Wednesday, making them net purchasers in the capital markets.

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