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    Home » Rupee up 3 paise to close at 82.47 per dollar
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    Rupee up 3 paise to close at 82.47 per dollar

    Shehnaz AliBy Shehnaz AliDecember 7, 2022Updated:December 7, 2022No Comments2 Mins Read
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    Mumbai, Dec 6 (PTI) The rupee on Wednesday strengthened by three paise to close at 82.47 against the American currency at the interbank foreign exchange market. This partial rise in the rupee was seen after the Reserve Bank of India increased the repo rate by 0.35 percent.

    Marketmen said that apart from this, softening crude oil prices also supported the rupee.

    The rupee opened at 82.74 at the Interbank Foreign Exchange market and ended at 82.47 against the dollar, up three paise, at the close of trade. The rupee touched a high of 82.40 and a low of 82.75 during the day.

    In the previous trading session, the rupee had closed at 82.50 per dollar.

    Gaurang Somaiya, Forex and Bullion Analyst, Motilal Oswal Financial Services, said, “As expected, the Reserve Bank has increased the repo rate by another 0.35 percent. It has also reduced the Gross Domestic Product (GDP) forecast for the financial year 2022-23 from 7 per cent to 6.8 per cent.

    Meanwhile, the dollar index, which reflects the strength of the dollar against six major world currencies, rose 1.10 per cent to 105.68.

    Global oil benchmark Brent crude futures declined 1.79 per cent to USD 77.93 per barrel.

    BSE’s 30-share Sensex closed 215.68 points down at 62,410.68 points.

    Foreign institutional investors (FIIs) remained net sellers in the capital market as they net sold shares worth Rs 635.35 crore on Tuesday, according to stock market data.

    Source: navbharattimes.indiatimes.com

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    This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.

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    Shehnaz Ali
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    Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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