Forex traders say sustained foreign fund outflows weighed on the rupee and restricted the appreciation bias
Forex traders say sustained foreign fund outflows weighed on the rupee and restricted the appreciation bias
The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09 per cent to 104.01
A positive trend in the Indian equities and easing crude oil prices supported the local unit and restricted the fall, say forex traders
Firm crude oil prices and a strong American currency further dented investor sentiments, forex traders say
Investors remain concerned over rising crude prices in the overseas markets and persistent foreign capital outflows, say forex traders
However, foreign capital outflows restricted the gain in the South Asian currency, forex traders say
On Wednesday, the currrency appreciated 8 paise to close at 81.80 against the dollar after Finance Minister Nirmala Sitharaman presented the budget for 2023-24
Experts say the key to making both the stock market and bond market happy would be a theme that focuses on capex and fiscal consolidation
Other Asian currencies advanced, led by the onshore Chinese yuan
The US dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.04 per cent to 101.88