Rupee recovers from initial losses, ends steady at 66.84
Foreign capital inflows also boosted the rupee value against the dollar, a forex dealer said. Foreign portfolio investors (FPIs) and foreign institutional investors (Fiis) bought shares worth a net of Rs 144.15 cr on Tuesday, as per provisional data released by the stock exchanges.
- Aug 9, 2016,
- Updated Aug 10, 2016 9:08 AM IST
The rupee recovered against the American currency on fag-end selling dollars by banks and exporters and ended steady at 66.84 per dollar on the back of partial recovery in the equity market as Reserve Bank Of India (RBI) kept the repo rate unchanged.
The Reserve Bank of India (RBI) kept its benchmark lending rate viz. the repo rate unchanged at 6.5 per cent after a monetary policy review on Tuesday. The RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4 per cent of net demand and time liabilities (NDTL).
The rupee opened flat at 66.84 as against Monday's closing level of 66.84 per dollar at the Interbank Foreign Exchange (Forex) market, but dropped afterwards to 66.98 per dollar on initial dollar demand from banks and importers before the announcement of RBI policy in the morning.
However, it recovered afterwards to 66.83 per dollar on fag-end selling of dollars in view of part recovery in the equity market after announcement of policy of RBI before closing at 66.84 per dollar.
Foreign capital inflows also boosted the rupee value against the dollar, a forex dealer said. Foreign portfolio investors (FPIs) and foreign institutional investors (Fiis) bought shares worth a net of Rs 144.15 cr on Tuesday, as per provisional data released by the stock exchanges.
The Sensex resumed higher at 28,289.22 and firmed up further to 28,289.96 in the early trade. But, it declined to 27,956.77 before ending at 28,085.16, still showing a loss of 97.41 points or 0.35 per cent.
The rupee recovered against the American currency on fag-end selling dollars by banks and exporters and ended steady at 66.84 per dollar on the back of partial recovery in the equity market as Reserve Bank Of India (RBI) kept the repo rate unchanged.
The Reserve Bank of India (RBI) kept its benchmark lending rate viz. the repo rate unchanged at 6.5 per cent after a monetary policy review on Tuesday. The RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4 per cent of net demand and time liabilities (NDTL).
The rupee opened flat at 66.84 as against Monday's closing level of 66.84 per dollar at the Interbank Foreign Exchange (Forex) market, but dropped afterwards to 66.98 per dollar on initial dollar demand from banks and importers before the announcement of RBI policy in the morning.
However, it recovered afterwards to 66.83 per dollar on fag-end selling of dollars in view of part recovery in the equity market after announcement of policy of RBI before closing at 66.84 per dollar.
Foreign capital inflows also boosted the rupee value against the dollar, a forex dealer said. Foreign portfolio investors (FPIs) and foreign institutional investors (Fiis) bought shares worth a net of Rs 144.15 cr on Tuesday, as per provisional data released by the stock exchanges.
The Sensex resumed higher at 28,289.22 and firmed up further to 28,289.96 in the early trade. But, it declined to 27,956.77 before ending at 28,085.16, still showing a loss of 97.41 points or 0.35 per cent.