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TMI BlogRupee rises 1 paisa to close at 86.60 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee rises 1 paisa to close at 86.60 against US dollar - PTI News Dated:- 17-1-2025 PTI - News - Rupee rises 1 paisa to close at 86.60 against US dollar - - - Dated:- 17-1-2025 - Mumbai, Jan 17 (PTI) The rupee traded in a tight range and settled just 1 paisa higher at 86.60 against the US dollar on Friday, as massive outflow of foreign funds and falling domestic equity markets dented investors' s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entiment. A firm American currency and elevated crude oil prices also weighed on the domestic unit, forex traders said. At the interbank foreign exchange, the rupee opened at 86.60, stayed range-bound between the high of 86.55 and low of 86.62 throughout the day and ended at 86.60 against the greenback, 1 paisa higher from its previous closing level. On Thursday, the rupee depreciated 21 paise to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... close at 86.61 against the US dollar. In two back-to-back sessions, on Tuesday and Wednesday, the local unit had gained 30 paise from its lowest-ever closing level of 86.70 against the dollar. The Indian rupee lost momentum during the day due to constant buying by FPIs and oil companies and falling equities but closed at 86.60. "The rupee was probably saved by sale of dollars by the Reserve Bank o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f India (RBI) which kept it near to 86.60 but the demand was good enough to keep the dollar well bid," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. A study published in the Reserve Bank's latest Bulletin said, foreign exchange interventions by the central bank effectively countered capital flows volatility -- the main source of exchange rate volat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ility in India. The study titled 'Foreign Exchange Intervention: Efficacy and Trade-offs in the Indian Experience', investigates the effectiveness of forex interventions undertaken by the Reserve Bank of India (RBI). "Foreign exchange interventions, both spot and forward, effectively counter capital flows volatility, with symmetric effects of purchases and sales," said the study by a team led by M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ichael Patra, who demitted the office of RBI Deputy Governor earlier this month. Meanwhile, India's forex reserves dropped by USD 8.714 billion to USD 625.871 billion in the week ended January 10, the RBI said on Friday. Earlier, the overall kitty dropped by USD 5.693 billion to USD 634.585 billion in the week ended January 3, the Reserve Bank of India said. Anuj Choudhary, Research Analyst at Mir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ae Asset Sharekhan, said the rupee weakened on a negative tone in the domestic markets and a surge in crude oil prices. "Importer demand may also pressurise the rupee. However, any selling of dollars by the Reserve bank of India (RBI) may support the rupee at lower levels. Traders may take cues from industrial production and housing market data from the US," he said and projected the USD-INR spot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... price to trade in the range of 86.55 to 86.95. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.28 per cent higher at 109.26. Brent crude, the global oil benchmark, fell 0.52 per cent to USD 80.87 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex fell 423.49 points, or 0.55 per cent, to settle at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 76,619.33 points, while the Nifty declined 108.60 points, or 0.47 per cent, to 23,203.20 points. Foreign institutional investors (FIIs) offloaded Rs 3,318.06 crore in the capital markets on a net basis on Friday, according to exchange data. PTI HVA DRR DRR - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax - New ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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