Rupee opens flat at 82.12 against the US dollar
The Indian rupee opened flat at 82.12 against the US dollar on Wednesday amid weakness in other Asian currencies.
The dollar index edged higher in Asia ahead of the US Federal Reserve Chair Jerome Powell’s testimony to lawmakers. Powell will be speaking after the central bank last week kept rates on hold, but policymakers indicated two more rate hikes this year, Reuters reported.
On Tuesday, rupee fell 18 paise to close at 82.12 a dollar on likely corporate dollar outflows.
Crude oil prices rebounded on expectations of hawkish Fed and possible US crude stock draws in outweighed China demand worries.
Brent futures rose 0.46% to $76.25 a barrel, while US West Texas Intermediate (WTI) crude futures climbed 34 cents to $71.53 by 0307 GMT.
On the domestic front, Indian equity benchmark indices, Sensex and Nifty were trading higher in the pre-opening session.
On Tuesday, the Foreign institutional investors (FIIs) net sold Indian equities worth ₹1,942.62 crore, while Domestic Institutional Investors (DIIs) net bought shares to the tune of ₹1,972.51 crore, as per provisional data available on the exchanges.
Catch Live Market Updates here
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Download Finplay News App to get Daily Market Updates.
More
Less
Updated: 21 Jun 2023, 09:11 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.