Rupee Appreciates By 6 Paise At 82.34 Against US Dollar

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After falling for days against the US Dollars, on the 19th of October, the rupee appreciated 6 paise to 82.34 against the US dollar.  In the early trade on Wednesday, the 19th of October, the gain in the rupee came as a hope for domestic equities and also strengthen investor sentiment in India.

However, persistent foreign capital outflows capped the gains of the local unit, said forex traders.  In addition, at the interbank foreign exchange, the domestic unit opened strong at 82.32 against the dollar, then lost some ground to quote at 82.34, a gain of 6 paise over its previous close.

Moreover, the global oil benchmark, rose 0.59%  to United States Dollars (USD) 90.56% per barrel.  In the domestic equity market, the 30 share Business Stock Exchange (BSE) Sensex was trading 258.72 points or 0.44% higher at 59,219.32. Similarly, the broader NSE Nifty rose 69.30 points or 0.40% to 17,556.25.  In addition, the Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 153.40 crores, on the 18th of October.

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