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TMI BlogRupee falls 6 paise to settle at 87.12 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee falls 6 paise to settle at 87.12 against US dollar X X X X Extracts X X X X X X X X Extracts X X X X ..... unemployment claims data from the US and the monetary policy announcement by the European Central Bank. While a positive equity market, weakness of the American currency in the overseas market and easing crude oil prices contained the losses for the local unit. In initial trade the local currency gained momentum after the US delayed implementation of higher tariffs on Canada and Mexico, and RB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I's decision to infuse Rs 1.9 trillion liquidity into the banking system. At the interbank foreign exchange, the rupee opened stronger at 86.96 and touched the high of 86.88 against the greenback during the day. The unit later turned volatile and hit the day's low of 87.16 before ending the session at 87.12 (provisional) against the dollar, 6 paise lower from its previous closing level. On Wed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nesday, the rupee settled 13 paise higher at 87.06 against the US dollar, registering the third straight day of gain. In the preceding two sessions, the unit had gained 18 paise. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee lost initial gains and fell against the US dollar on selling pressure by FIIs, while the American currency fell to a four-month low as the US dec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ided to delay implementing higher tariffs on imports from Canada and Mexico. Choudhary further said the rupee is expected to trade with a slight positive bias on positive domestic markets and weakness in the US dollar. However, FII outflows may cap sharp gains in the local unit. "Uncertainty over the trade tariff issue may also weigh on the rupee. Traders may take cues from weekly unemployment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claims data from the US and ECB monetary policy decision. USD-INR spot price is expected to trade in a range of 86.80 to 87.25," he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.15 per cent at 104.12. Brent crude, the global oil benchmark, rose 0.39 per cent but stayed at six-month low levels of USD 69.57 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex surged 609.86 points, or 0.83 per cent, to settle at 74,340.09, while the Nifty advanced 207.40 points, or 0.93 per cent, to close at 22,544.70 points. Both the indices had closed Wednesday's session with a gain of more than 1 per cent. Foreign institutional investors (FIIs) offloaded equities worth Rs 2,895.04 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crore on net basis on Wednesday, according to exchange data. The Reserve Bank on Wednesday said it will conduct open market purchases of government securities and undertake USD/INR swaps totalling about Rs 1.9 lakh crore during the month. On February 28, the central bank conducted a US dollar-rupee swap worth USD 10 billion to inject long-term liquidity into the system, with the auction elicit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing robust demand.
Meanwhile, US President Donald Trump has granted a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for US automakers amid concerns that the newly launched trade war could crush domestic manufacturing. The pause came a day after Trump spoke with leaders of the 'big 3' automakers, Ford, General Motors and Stellantis. PTI HVA DRR X X X X Extracts X X X X X X X X Extracts X X X X ..... lease - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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