Mumbai: The rupee closed at 87.19 (temporary) per dollar on Wednesday amidst unstable global perception due to fee uncertainties and some improvement in the US Dollar Index. Forex analysts said that the rise in crude oil prices also affected the rupee and the drainage of foreign funds in the domestic stock market limited its lead. In addition, the market participants remained cautious and they were waiting for a signal from the large economic figures released later in India and the US.
The rupee opened at 87.24 in the Interbank Forex Exchange Market and went to the lowest level of the day by 87.32 against the dollar. The rupee also touched the upper level of 87.17 and at the end of the trading it closed at 87.19 (temporary) per dollar. This is a gain of two paise from the previous closed level. In the last trading session, the rupee closed at 87.21 per dollar with a strength of 10 paise.
Dollar index rose by 0.18 percent
Meanwhile, the dollar index, which showed the dollar strength against the world's six major currencies, rose 0.18 percent to 103.45. Global oil standard was trading at US $ 69.94 per barrel in standard brant crude futures trading. The domestic stock market declined and the 30 -share BSE Sensex lost 72.56 points, or 0.10 percent, at 74,029.76 points and the National Stock Exchange's Nifty closed at 22,470.50 points, declining 27.40 points, or 0.12 percent.
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Fiis sold for Rs 2,823.76 crore
According to the stock market data, foreign institutional investors (FIIs) on Tuesday sold shares worth Rs 2,823.76 crore on a pure basis. According to experts, uncertainty over the fee increased further when US President Donald Trump said that if steel and aluminum arrives from Canada, the US would double the upcoming fee on it to 50 percent, but later he indicated that he could reconsider the extra growth.
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