In terms of interbank foreign exchange, domestic units opened at 82.59, down 7 paise from the previous day’s close.
Posted Date – 12:15 PM, Thursday – 6/8/23
Mumbai: The rupee depreciated by 7 paise to 82.59 against the dollar in early trade on Thursday ahead of the Reserve Bank of India’s monetary policy decision.
In terms of interbank foreign exchange, domestic units opened at 82.59, down 7 paise from the previous day’s close.
On Wednesday, the rupee closed at 82.52 against the dollar.
Forex traders said the local unit traded in a tight range as investors tended to stay on the sidelines ahead of the RBI monetary policy decision.
The Reserve Bank of India is scheduled to announce its bi-monthly monetary policy decision at 1000. The market generally expects the repo rate to remain unchanged at 6.5%.
The U.S. dollar index , which measures the greenback’s strength against a basket of six currencies, fell 0.09% to 104.
Brent crude futures, the global oil benchmark, fell 0.26% to $76.75 a barrel.
On the domestic market, the 30-share BSE Sensex rose 44.74 points or 0.07 percent to 63,187.70. The broader NSE Nifty rose 15.70 points or 0.08 percent to 18,742.10.
Foreign institutional investors (FII) were net buyers in the capital market on Wednesday, buying shares worth Rs 1,382.57 crore, according to exchange data.
