Today Rupee advances 3 paise against dollar in early trade
The Indian rupee opened nearly 2 paise higher against the US dollar on Friday on account of selling of the greenback by banks and exporters amid a cautious start of domestic equity market tracking mixed global cues.
The rupee was up by 3 paise at 66.72 against the dollar. Benchmark BSE Sensex was up by 2.31 points at 27,432.59, whereas the Nifty50 was trading 8.40 points down at 8,476.55.
The local currency on Thursday snapped a two-day rally and closed down by 3 paise at 66.75 against the US dollar amid capital outflows from domestic equity markets. Foreign institutional investors remained net sellers in the domestic equity market on Thursday as they sold shares worth Rs 613.77 crore during the day, according to the data available with NSDL. Gross purchases of FIIs or FPIs stood at Rs 3,695.41 crore while their gross sales remained at Rs 4,309.18 crore
The dollar index ended lower as rising uncertainties on the US presidential election outcome supported gains in safe haven currencies like Yen and Swiss franc. According to ICICI Securities, the US December rate hike probability has fallen slightly to 69 per cent from 72 per cent since the growing tie between the two presidential candidates.
The brokerage house said, "We expect the US$ to gain support at lower levels. Utilise downsides in the dollar to go long on the US$INR pair."
The rupee was up by 3 paise at 66.72 against the dollar. Benchmark BSE Sensex was up by 2.31 points at 27,432.59, whereas the Nifty50 was trading 8.40 points down at 8,476.55.
The local currency on Thursday snapped a two-day rally and closed down by 3 paise at 66.75 against the US dollar amid capital outflows from domestic equity markets. Foreign institutional investors remained net sellers in the domestic equity market on Thursday as they sold shares worth Rs 613.77 crore during the day, according to the data available with NSDL. Gross purchases of FIIs or FPIs stood at Rs 3,695.41 crore while their gross sales remained at Rs 4,309.18 crore
The dollar index ended lower as rising uncertainties on the US presidential election outcome supported gains in safe haven currencies like Yen and Swiss franc. According to ICICI Securities, the US December rate hike probability has fallen slightly to 69 per cent from 72 per cent since the growing tie between the two presidential candidates.
The brokerage house said, "We expect the US$ to gain support at lower levels. Utilise downsides in the dollar to go long on the US$INR pair."
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