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The rupee slipped by 4 paise to 82.24 against the US dollar in early trade on Friday amid a stronger dollar in the overseas markets and losses in domestic equities. At the interbank foreign exchange market, the local unit opened lower by 12 paise at 82.32 as the US dollar rebounded against global currencies in early Asian trade. The rupee pared some of the losses to trade at 82.24, registering a loss of 4 paise over the previous close of 82.20 on Thursday. Traders said a stronger US dollar and losses in domestic equities weighed on the local unit. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 102.63. Crude oil prices declined in early Asian trade on reports that the US is likely to defer restocking of its strategic reserves despite current low prices. Global oil benchmark Brent crude slipped 0.16 per cent to USD 75.79 per barrel. Benchmark BSE Sensex declined by 63.71 points or 0.11 per
The rupee depreciated by 10 paise to 82.75 against the US dollar in early trade on Thursday amid negative trends in the domestic as well as global equity markets and continued outflow of foreign funds. At the interbank foreign exchange, the domestic unit opened weaker at 82.77 against the US dollar and traded in the range of 82.80 and 82.71. Later, the domestic unit was trading at 82.75 against the greenback, registering a fall of 10 paise. On Wednesday, the rupee settled at 82.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 104.54. Global oil benchmark Brent crude futures rose 0.61 per cent to USD 74.14 per barrel. The 30-share BSE Sensex was trading 116.67 points or 0.20 per cent lower at 57,439.23 points while the broader NSE Nifty was down 34 points or 0.2 per cent at 16,938.15 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on ..
The rupee depreciated 11 paise to 82.60 against the US dollar in early trade on Thursday, weighed down by strength of the American currency in the overseas market. Sustained foreign fund outflows further dented investor sentiments, according to forex traders. At the interbank foreign exchange, the domestic unit opened weak at 82.57 against the dollar, then fell to 82.60, registering a decline of 11 paise over its last close. On Wednesday, the rupee settled at 82.49 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 11 per cent to 104.59. Brent crude futures, the global oil benchmark, advanced 0.04 per cent to USD 83.34 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 303.83 points or 0.51 per cent lower at 59,107.25. The broader NSE Nifty declined 80.70 points or 0.46 per cent to 17,370.20. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday
The rupee gained 11 paise to 82.77 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 82.78 against the dollar and marginally rose to 82.77, registering a rise of 11 paise over its previous close. On Wednesday, the rupee closed at 82.88 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 104.34. Brent crude futures, the global oil benchmark, advanced 0.48 per cent to USD 80.99 per barrel. "US Federal Reserve officials in their most recent Federal Open Market Committee (FOMC) meeting on February 1 indicated that there are signs inflation is coming down but not enough to counter the need for more interest rate hikes," Mitul Shah, Head of Research Institutional Desk at Reliance Securities, said. In the domestic equity market, the 30-share BSE Sensex fell 166.23 poin
The Biden administration has released a long-awaited study that recommends allowing a major oil development on Alaska's North Slope that supporters say could boost US energy security but that climate activists decry as a carbon bomb. The move while not final drew immediate anger from environmentalists who saw it as a betrayal of the president's pledges to reduce carbon emissions and promote clean energy sources. ConocoPhillips Alaska had proposed five drilling sites as part of its Willow project, and the approach listed as the preferred alternative by the US Bureau of Land Management in the report calls for up to three drill sites initially. Even as the land agency released its report, the US Interior Department said in a separate statement that it has substantial concerns about the project and the report's preferred alternative, including direct and indirect greenhouse gas emissions and impacts to wildlife and Alaska Native subsistence. The Bureau of Land Management, which falls