Rupee Volatile Against Dollar Ahead Of US Central Bank Policy Decision

Must Read

Good that we are playing strong Mumbai early: KKR captain Karthik

Dinesh Karthik was bought by KKR for Rs 7.4 crore at IPL 2018 auction.IANS Mumbai Indians (MI) consist of world-class players and that is why...

NIA raids at multiple locations in Baramulla, Srinagar in Davinder Singh case

 Baramulla of Jammu and Kashmir.IANS Tightening its noose in the case of suspended J&K Deputy Superintendent of Police (DSP) Davinder Singh and Hizbul Mujahideen terrorist...

The rupee was last seen trading at 73.64 against the greenback

Mumbai:

The rupee witnessed high volatility against the US dollar in opening trade on Wednesday ahead of the released of the policy decision by the US central bank. The rupee opened at 73.70 at the interbank forex market, registering a decline of 7 paise over its last close, but soon pared the losses and was trading at 73.64, unchanged from its previous closing.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 per cent to 93.06.

“The focus will be on the Federal Open Market Committee (FOMC) tonight. Market participants would expect further clarifications from the US Fed on how average inflation targeting framework would be implemented,” said Abhishek Goenka, founder and CEO, IFA Global.

Mr Goenka further said that “the threshold for the US dollar to weaken from current levels is high as a lot of dovishness has already been factored in. One possible trigger could be the Fed predicating keeping rates at close to zero on inflation expectations reaching a certain level”.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 119.52 points higher at 39,163.87 and the broader NSE Nifty rose 31.35 points to 11,553.15.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,170.89 crore on a net basis on Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 1.48 per cent to $41.13 per barrel.

Source link

Popular

Assam’s Dibrugarh University Teacher Arrested For Sharing Porn Video: Police

During interrogation, the accused confessed to the crime. (Representational)Dibrugarh: An assistant professor in Assam's Dibrugarh University was arrested today for allegedly uploading pornographic content...

Sushant Singh Rajput case | FIR against late actor’s sisters for abetment of his...

Charge comes less than 12 hours after actor Rhea Chakraborty filed a complaint against Sushant’s sisters. The Bandra police station charged late actor Sushant Singh...

MSMEs want extension of loan moratorium

Over 70% of those who have availed loans are not in a position to repay their dues With the loan moratorium period coming to end...

CBI case against 6 companies for allegedly installing pop-ups to personal computers

The Central Bureau of Investigation on Thursday said that it has filed a case against six private companies for allegedly transmitting pop-ups with bogus...

Delhi schools to remain closed for all students till October 5, says Delhi govt

All schools in the national capital will continue to remain closed till October 5 in view of the rising number of the cases, the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles