INDIAN RUPEE FINISHES IN NEGATIVE TERRAIN

Published on Jun 30, 2023 17:20

The Indian rupee finished the day in the negative terrain on Friday as dollar strength overseas weighed down the domestic unit. However, rally in domestic equities and FII inflows into equities limited losses in rupee that closed at 82.05 (provisional) against the US dollar, down marginally over its previous close at 82.03. The rupee opened weak at 82.05 at the interbank foreign exchange market due to firm crude oil prices in the Asian trade. It moved in a tight range of 82.00 to 82.07 in the day trade. USDINR NSE July futures ended marginally higher at 82.15 as compared to previous close at 82.12. the pair remained mostly flat through the day but ended in positive tracking broad strength in the dollar overseas. Meanwhile, the dollar index hit fresh three week high above 103, ahead of the release of the US Core PCE Price Index that could throw better light on the Federal rate stance.