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TMI BlogRupee falls 36 paise to close at 85.95 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee falls 36 paise to close at 85.95 against US dollar X X X X Extracts X X X X X X X X Extracts X X X X ..... ential between India and the US, is making Indian assets less attractive. Besides, elevated crude oil prices amid rising geopolitical tensions in the Middle East, further dented investor sentiments. At the interbank foreign exchange market, the rupee opened flat at 85.59 then touched an intra-day high of 85.58 and a low of 86.11 against the US dollar. The domestic unit settled for the day at 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.95, lower by 36 per cent over its previous close. On Wednesday, the rupee settled at 85.59 against the greenback. "The Indian rupee has ebbed for a third straight session, influenced by importers' appetite for the dollar and the unwinding of short positions after a key technical level was breached," Dilip Parmar, Senior Research Analyst, HDFC Securities, said. Parmar added that "a prevaili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng inclination towards risk aversion, alongside carry trades involving the Japanese yen, additionally exerted downward pressure on the domestic rupee". "Dollar surged against the rupee as importers bought dollar and the RBI decided to let go its tight hold on the currency pair at 85.70. Oil companies, FPIs, defence requirements, government payments and importers' payments were the reason for con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stant buying as short-sellers of dollars were squeezed out," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee... looks headed lower towards 85.75/86.50 for tomorrow (Friday) with dips to the dollar to be bought. Yet we expect rupee to gain towards 84 by the year-end and every uptick will be a good sell for long-term exports," he said. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25 per cent at 99.80. Brent crude, the global oil benchmark, fell 1.45 per cent to USD 63.97 per barrel in futures trade. "The spot USDINR rate has retraced to its 100-day simple moving average in today's session. Advancement beyond the 86.11 threshold might propel it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into the 86.30 to 86.45 spectrum. Conversely, the 85.60 mark now acts as a prospective support," Parmar said. In the domestic equity market, the 30-share BSE Sensex declined 644.64 points, or 0.79 per cent, to close at 80,951.99, while the Nifty fell 203.75 points, or 0.82 per cent, to 24,609.70. Foreign institutional investors (FIIs) sold equities worth Rs 5,045.36 crore on Thursday. PTI DRR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TRB X X X X Extracts X X X X X X X X Extracts X X X X
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