DH Latest NewsDH NEWSLatest NewsNEWSBusiness

Forex Market: Indian rupee opens flat against US dollar

Mumbai: The Indian rupee opened on a flat note  against the US dollar in initial deals on Thursday. Strengthening of the US dollar, muted trend in domestic equities and persistent foreign fund outflows dented investor sentiments.

At the interbank foreign exchange, the Indian rupee opened at 84.08 against the US dollar, it rose 1 paisa to 84.07 in initial trade. On Wednesday, the Indian rupee depreciated 3 paise to close at 84.08 against US dollar. The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.

Also Read: Petrol, diesel prices for November 2024 announced 

Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading at 104.14, higher by 0.14 per cent. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Wednesday, as they offloaded shares worth Rs 4,613.65 crore.

On the macroeconomic front, the output of eight key infrastructure sectors expanded by 2 per cent in September, though the growth was slower than the 9.5 per cent registered in the same month last year.The Centre’s fiscal deficit at the end of the first half of financial year FY25 touched 29.4 per cent of the full-year target.

shortlink

Post Your Comments


Back to top button