Indian Rupee: The rupee strengthens by 12 paise, at the top of a week, the support provided by softening crude oil prices

Posted on 26th Jul 2022 by rohit kumar

The rupee on Monday gained 12 paise to close at 79.78 against the dollar. This is the one-week high of the rupee since July 14. A rise in other foreign currencies and a softening in crude oil supported the domestic currency.

 

 

The rupee opened at 79.86 in the interbank foreign exchange market. During trading, it was in the range of 79.70 to 79.87. Dilip Parmar of HDFC Securities said Rupee has started the trading week strongly against the dollar. This also contributed to the softening of crude oil prices and the strengthening of regional currencies.

 

 

Gold was marginally cheaper, silver also slipped by Rs 1,331: In the Delhi bullion market, gold was cheaper by Rs 5 to Rs 51,145 per 10 grams. Silver became cheaper from Rs 1,331 to Rs 54,351 per kg.

 

halts for 6 days, drops 306 points

The continued rally in the domestic stock market for the last six trading sessions came to an end on Monday. Profit-booking in shares of oil-gas, auto, and telecom companies and capital outflow of foreign institutional investors led to the fall in the domestic market. With this, the Sensax closed 306.01 points lower at 55,766.22. Nifty closed at 16,631, down 88.45 points.

 

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