Rupee vs Dollar: Rupee weakened in early trade, trading in limited range
Rupee vs Dollar: The rupee was trading in a limited range against the US dollar in early trade on Monday amid a negative trend in the stock market. According to forex traders, investors have been affected by the continuous withdrawal of foreign funds and rising crude oil prices. Know at what level the rupee opened today and what is the condition of the dollar index. Read what is the complete news.
The rupee is trading in a limited range against the US dollar in early trade on Monday amid a negative trend in the stock market.
According to forex traders, continuous withdrawal of foreign funds and rising crude oil prices have affected investors.
At the Interbank Foreign Exchange, the rupee opened at 83.25 against the dollar and then touched a high of 83.23 and a low of 83.27. On Friday, the rupee had closed at 83.26 against the dollar.
The dollar index, which compares six other currencies against the dollar, was trading 0.36 percent lower at 103.54 in early trade today.
Global oil benchmark Brent crude futures rose 0.73 percent to US$81.20 a barrel.
"The rupee opened almost unchanged on sustained dollar demand and continued supply from the RBI," Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, told PTI.
Till the time of writing the news, BSE Sensex was trading at 65,697.69 points, down by 97.04 points or 0.15 percent. Nifty is trading at 19,714.75, down 17.05 points or 0.09 percent. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 477.76 crore from the stock market on Friday.
India's foreign exchange reserves declined by US$ 462 million to US$ 590.321 billion in the week ended November 10. However, in the previous week, total reserves had increased by US$ 4.672 billion to US$ 590.783 billion.
