On Friday, the Indian rupee saw a decrease of 5 paise, against the US dollar due to local demand for the greenback. The rupee ended the day at 83.29 against the dollar compared to its closing rate of 83.24. The dollar index, which measures the performance of the dollar against six currencies, was trading lower at 105.94 with a decline of 0.17%.
Throughout the week, the Indian rupee remained relatively stable, fluctuating between 83.18 and 83.2950. In the session, it had settled at 83.24 against the US dollar. Reports suggested that the Reserve Bank of India (RBI) conducted sales of US dollars to prevent significant losses for the Indian rupee. Additionally, Brent crude futures, an oil benchmark, experienced a slight decline of 0.15%, closing at $86.72 per barrel.
In the news, India’s stock market performed positively, with indices closing half a percent higher due to optimistic global cues and increased investor risk appetite. These improvements were partially attributed to expectations that the period of tightening policy is approaching its end.
The BSE Sensex, which consists of 30 known companies, finished the session with a rise of 282.88 points to 0.44%, reaching a total of 64,363.78. At the time, the broader NSE Nifty 50 index, which represents the 50 listed companies, on the NSE saw a strong increase of 97.35 points or a gain of 0.51%, settling at a closing value of 19,230.60.
Foreign Institutional Investors (FIIs) engaged in net selling in the capital markets on Thursday, with sales of shares valued at ₹1,261.19 crore, as reported by exchange data.
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