Rupee Vs. USD: Indian Rupee gains 17 paise against the USD

11 Jul 2023 , 10:44 AM

The Indian rupee began the day 17 paise higher against the US dollar, following the decline of the greenback to its lowest level in two months against a basket of major currencies. The local currency opened at 82.40 per dollar, compared to the previous day’s close of 82.57.

Dollar Index Drops Below 102 Amid Decline in US Yields: The dollar index fell below 102 during New York trading and continued to slip in Asian trading hours, driven by a decrease in US yields. The two-year US yield dropped to 4.86% ahead of the upcoming inflation data scheduled for Wednesday.

Rupee Ends Losing Streak, Closes at 82.57 per Dollar: After four consecutive days of decline, the Indian rupee managed to halt its losing streak and finished the previous day’s trading session at 82.57 per dollar.

Sensex and Nifty Show Positive Trend in Pre-Opening Session: The Indian benchmark equity indices, Sensex and Nifty, displayed a positive trend during the pre-opening session.

FII & DII Net Buying Activity: According to provisional data available on the exchanges, on Monday, Foreign Institutional Investors (FIIs) net purchased Indian shares worth Rs 588.48 crore, while Domestic Institutional Investors (DIIs) also made net purchases of shares amounting to Rs 288.38 crore.

For feedback and suggestions, write to us at [e-mail]