Mumbai: The Indian Rupee opened weaker against the Dollar on Thursday. As per forex traders, the latest US auto tariffs pushed the Dollar Index higher, along with rising crude oil prices.
At the Interbank foreign exchange, the domestic currency opened 20 paise weaker at 85.91 against the US dollar. The local currency closed at 85.71 on Wednesday. The currency snapped its nine-consecutive day of gains on Tuesday, marking an end to the best winning streak since January 2024. The currency has appreciated by 1.86 per cent in March so far, tracking the fall in the dollar index. Meanwhile, during the current financial year, it witnessed a 2.1 per cent fall.
Also Read: Commodity Market: Gold prices edge higher again
The dollar index — a measure of the value of the US dollar relative to a basket of foreign currencies — was up 0.19 per cent at 104.35. The dollar index was weakened by 3.26 per cent in March, the highest since November 2022.
Foreign institutional investors remained net buyers of Rs 2,240.55 crore from Indian equities on Wednesday. Global funds have pulled out Rs1.27 trillion from domestic stocks so far this year.
Post Your Comments