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Rupee rises 15ps to close at 79.48/USD
The rupee appreciated by 15 paise to close at 79.48 (provisional) against the US dollar on Wednesday, tracking foreign fund inflows and easing crude oil prices.
Mumbai: The rupee appreciated by 15 paise to close at 79.48 (provisional) against the US dollar on Wednesday, tracking foreign fund inflows and easing crude oil prices.
At the interbank forex market, the local unit opened at 79.59 against the greenback and finally settled at 79.48 (provisional), registering a rise of 15 paise over its previous close.
"The Indian rupee outperforms among Asian currencies amid corporate dollar inflows and lacklustre global cues ahead of US inflation data. However, the US Fed remains hawkish and wants to see a clear decelerating trend before slowing the pace of tightening before the next FOMC meeting on September 21, which will bid well for the dollar," said Dilip Parmar, research analyst, HDFC Securities. During the session, the local unit witnessed an intra-day high of 79.41 and a low of 79.59 against the American currency. In the previous session on Monday, the rupee had closed at 79.63 against the US dollar.
