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Rupee Surges For Seventh Day In A Row, Ends 22 Paise Higher

Here are 10 things to know about dollar-rupee (USD-INR) trade on Friday:
  1. At the interbank foreign exchange market, the rupee opened at 70.94 a dollar. It shuttled between a high of 70.86 and low of 71.15, before finally settling at 70.92, up 22 paise over its previous close.
  2. Robust buying in domestic equities and a weakening dollar also propped up the domestic unit, PTI reported citing forex traders.
  3. The Indian currency has appreciated by 147 paise in the last seven trading sessions. On a weekly basis, the local unit has gained 82 paise.
  4. “In the past 7-days, rupee has appreciated by 2.13 per cent on some profit-booking in dollar amid hopes of US-China trade truce,” PTI reported Rahul Gupta, Currency Research Head, Emkay Global Financial Services Limited as saying.
  5. The dollar index, which gauges the greenback”s strength against a basket of six currencies, slipped 0.29 per cent to 98.02.
  6. Brent crude futures, the global oil benchmark, fell 0.07 per cent to trade at $60.34 per barrel.
  7. Foreign institutional investors (FIIs), who were net buyers for the past few sessions, offloaded shares worth Rs 405.45 crore on Friday, according to provisional exchange data.
  8. The 10-year government bond yield was at 6.64 per cent on Friday.
  9. The S&P BSE Sensex and NSE Nifty 50 indexes rebounded sharply after closing lower in the previous session led by gains in banking and information technology shares. The Sensex ended 281 points or 0.76 per cent higher at 37,385 and the Nifty 50 index climbed points or 0.85 per cent to close at 11,076.
  10. All sector gauges barring the Nifty Pharma index ended higher led by the Nifty Realty index’s 1.5 per cent gain. Nifty Private Bank, Nifty Bank, Nifty Auto, Metal, Nifty Financial Service, Nifty IT and Nifty Media sector gauges also rose between 0.75-1.4 per cent each.

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Source: NDTV Profit