American Currency

The domestic unit depreciated by 10 paise to closing at 81.74 against the US currency, on 18 November. At the same time, the dollar index moved 0.25 per cent up to 107.19. It measures the greenback’s strength against a basket of six currencies

The rupee got depreciated 12 paise to 81.86 against the US dollar during early trade on 21 November. This is followed by the strength of American currency in the overseas market and lowered trend in domestic equities.

The India rupee opened at 81.84 against the dollar, however later went down at 81.86. It registered a loss of 12 paise during its previous close, at the interbank foreign exchange.

The domestic unit depreciated by 10 paise to closing at 81.74 against the US currency, on 18 November.

At the same time, the dollar index moved 0.25 per cent up to 107.19. It measures the greenback’s strength against a basket of six currencies.

According to analysts, the rupee started on a weaker note on 21 November. as the dollar showed a continued growth amid hawkish Fed rhetoric.

The losses maybe be capped due to weaker crude oil prices however, Asian and emerging market players were seen weak on 21 November and will weigh on the local unit.

The global oil benchmark, Brent crude futures too fell 1.08 per cent to USD 86.67 per barrel.

The 30-share BSE Sensex was traded 468.58 points or 0.76 per cent down at 61,194.90 and the broader NSE Nifty was traded lower by 146.20 points or 0.80 per cent at 18,161.45, in the domestic equity market.

The Foreign Institutional Investors (FIIs) offloaded shares worth Rs 751.20 crore on 18 November, which made them net sellers in capital markets, informed an exchange data.

Meanwhile, the India’s foreign exchange reserves went up by USD 14.72 billion reaching USD 544.72 billion for the week to 11 November. This made it the steepest accretion ever since August 2021.