MUMBAI: The rupee tumbled by means of 29 paise to 70.35 in opposition to US buck on Thursday amid strengthening of the greenback even as crude oil costs eased.
Brokers mentioned america buck firmed up in opposition to major international currencies following easing of tensions between the White House and the Fed, which calmed investors' nerves.
Progress in US-China industry negotiations and robust shopper spending knowledge in america added to the momentum, they added.
At the Interbank Foreign Exchange, the rupee opened sharply lower at 70.27 a buck in opposition to its previous shut of 70.06. The home unit moved in a spread of 70.39 to 70.18 during the day, ahead of remaining at 70.35.
Brent crude futures dropped 3.78 according to cent to $53.20 according to barrel.
On a net basis, international portfolio investors (FPIs) purchased shares worth Rs 80.28 crore Wednesday, while home institutional investors (DIIs) were net sellers to the track of Rs 137.63 crore, provisional knowledge to be had with BSE showed.
Meanwhile, the BSE benchmark Sensex jumped 157 points Thursday amid expiry of December series derivatives contracts and sure international cues.
The Financial Benchmark India Private Ltd (FBIL) set the reference price for the rupee/buck at 70.3270 and for rupee/euro at 80.0223. The reference price for rupee/British pound was fixed at 88.9829 and for rupee/100 Japanese yen at 63.25.
Brokers mentioned america buck firmed up in opposition to major international currencies following easing of tensions between the White House and the Fed, which calmed investors' nerves.
Progress in US-China industry negotiations and robust shopper spending knowledge in america added to the momentum, they added.
At the Interbank Foreign Exchange, the rupee opened sharply lower at 70.27 a buck in opposition to its previous shut of 70.06. The home unit moved in a spread of 70.39 to 70.18 during the day, ahead of remaining at 70.35.
Brent crude futures dropped 3.78 according to cent to $53.20 according to barrel.
On a net basis, international portfolio investors (FPIs) purchased shares worth Rs 80.28 crore Wednesday, while home institutional investors (DIIs) were net sellers to the track of Rs 137.63 crore, provisional knowledge to be had with BSE showed.
Meanwhile, the BSE benchmark Sensex jumped 157 points Thursday amid expiry of December series derivatives contracts and sure international cues.
The Financial Benchmark India Private Ltd (FBIL) set the reference price for the rupee/buck at 70.3270 and for rupee/euro at 80.0223. The reference price for rupee/British pound was fixed at 88.9829 and for rupee/100 Japanese yen at 63.25.
Rupee dives 29 paise against US dollar
![Rupee dives 29 paise against US dollar]()
Reviewed by Kailash
on
December 27, 2018
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