The Indian rupee inched higher by 8 paise to 72.97 against the US dollar in early trade on Wednesday amid a muted trend in the domestic equity market.<\/p>\n\n\n\n
At the interbank foreign exchange, the domestic unit opened on a flat note at 73.02 against the dollar, then inched higher and touched 72.97, registering a rise of 8 paise over its previous close.<\/p>\n\n\n\n
On Tuesday, the rupee had closed at 73.05 against the US dollar.<\/p>\n\n\n\n
“Markets would look to cues from the equity markets in the intra-day session, while the weakness of the greenback could cap losses of the local unit,” Reliance Securities said in a research note.<\/p>\n\n\n\n
Markets would also await the Fed meeting minutes for further cues, the note added.<\/p>\n\n\n\n
On the domestic equity market front, the 30-share BSE Sensex was trading 85.17 points or 0.17 per cent lower at 50,108.16. Similarly, the broader NSE Nifty declined 19.05 points or 0.13 per cent to 15,089.05.<\/p>\n\n\n\n
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.01 per cent at 89.73, ahead of the minutes from the US Federal Reserve’s most recent meeting due later in the day.<\/p>\n\n\n\n
Forex traders believe upside for the American currency could remain capped amid expectations that the US interest rates will remain low.<\/p>\n\n\n\n
Foreign institutional investors (FIIs) were net buyers in the capital markets, as they purchased shares worth Rs 618.49 crore on Tuesday, as per provisional data.<\/p>\n\n\n\n
Brent crude futures, the global oil benchmark, were trading down 0.93 per cent at USD 68.07 per barrel.<\/p>\n\n\n\n
Meanwhile, India saw record 4,529 fatalities due to coronavirus in a single day pushing the COVID-19 death toll to 2,83,248, while 2,67,334 fresh infections were recorded taking the total tally of cases to 2,54,96,330, according to the Union Health Ministry data updated on Wednesday.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
The Indian rupee inched higher by 8 paise to 72.97 against the US dollar in early trade on Wednesday amid a muted trend in the domestic equity market. At the interbank foreign exchange, the domestic unit opened on a flat note at 73.02 against the dollar, then inched higher and touched 72.97, registering a rise of 8 paise over its previous close. On Tuesday, the rupee had closed at 73.05 against the US dollar. “Markets would look to cues from the equity markets in the intra-day session, while the weakness…<\/p>\n","protected":false},"author":1,"featured_media":30308,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,4],"tags":[],"_links":{"self":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/30321"}],"collection":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30321"}],"version-history":[{"count":1,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/30321\/revisions"}],"predecessor-version":[{"id":30322,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/30321\/revisions\/30322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/media\/30308"}],"wp:attachment":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}