The rupee began the brand new 12 months on a weak notice, depreciating by 6 paise to 83.22 in opposition to the US greenback amid a muted development in home equities and greenback demand from importers.
Foreign exchange merchants stated the rupee traded in a slim vary within the absence of worldwide cues. International crude oil markets had been closed for New Yr Day vacation.
On the interbank overseas trade market, the rupee opened at 83.18 and at last settled at 83.22 (provisional) in opposition to the greenback, down by 6 paise from its earlier shut.
- Additionally learn: India’s foreign exchange reserves rose by $58 billion cumulatively in 2023
On Friday, the rupee appreciated 4 paise to settle at 83.16 in opposition to the US greenback on the final buying and selling day of 2023.
The greenback index, which gauges the dollar’s power in opposition to a basket of six currencies, was 0.05 per cent up at 101.38.
On the home fairness market entrance, Sensex superior 31.68 factors, or 0.04 per cent, to settle at 72,271.94 factors. The Nifty superior 10.50 factors, or 0.05 per cent, to 21,741.90 factors.
International Institutional Buyers (FIIs) had been web consumers within the capital markets on Friday as they bought shares price ₹1,459.12 crore, based on trade information.
The foreign exchange reserves continued to rise for the third consecutive week, including $4.471 billion extra within the week ending December 22, taking the overall to $620.441 billion, based on the weekly information launched by the Reserve Financial institution on Friday.
Within the earlier reporting week, the kitty had swollen by $9.112 billion to $615.971 billion, making the quantum of enhance one of many highest in per week. Within the week earlier than, the general reserves had risen by $2.816 billion to $606.859 billion.
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