The Hindustan Express
Buisness

Rupee and US dollar settle almost unchanged at 83.39

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<p>In anticipation of the Fed Meeting, investors stayed away from the markets on Monday, causing the rupee to remain almost unchanged and end the day 1 paisa down at 83.39 (provisional) versus the US dollar.</p>
<p><img decoding=”async” class=”alignnone wp-image-302156″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-750×422.jpg” alt=”theindiaprint.com rupee and us dollar settle almost unchanged at 83 39 rupee dollar 1 11zon” width=”1153″ height=”649″ title=”Rupee and US dollar settle almost unchanged at 83.39 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-1536×864.jpg 1536w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-rupee-and-us-dollar-settle-almost-unchanged-at-83-39-rupee-dollar-1-11zon.jpg 1600w” sizes=”(max-width: 1153px) 100vw, 1153px” /></p>
<p>The strong equities market and a steady influx of foreign capital, according to forex dealers, did not improve investor morale.</p>
<p>Later this week, the US Federal Reserve is anticipated to make its monetary policy announcement.</p>
<p>The local unit started at 83.39 versus the US dollar on the interbank foreign exchange market. It reached an intraday high of 83.37 before finishing at 83.39 (provisional), which is 1 paisa higher than its previous close.</p>
<p>The rupee dropped 4 paise to settle at 83.40 versus the US dollar on Friday.</p>
<p>The dollar index, which measures the strength of the US dollar relative to a basket of six other currencies, was up 0.04 percent at 103.67 in the meanwhile.</p>
<p><strong>Oil Costs</strong></p>
<p>The world oil benchmark, Brent crude futures, increased 0.41 percent to USD 75.53 a barrel.</p>
<p><strong>Home Indices</strong></p>
<p>Regarding the local stock market, the Sensex reached a record high of 69,928.53 points after rising 102.93 points, or 0.15 percent. The Nifty reached a new closing high of 20,997.10 points, up 27.70 points, or 0.13 percent.</p>
<p><strong>FII</strong></p>
<p>According to exchange statistics, Foreign Institutional Investors (FIIs) purchased shares worth Rs 3,632.30 crore on Friday, making them net purchasers in the capital markets.</p>
<p>The Reserve Bank of India (RBI) maintained the retail inflation forecast for the current fiscal year at 5.4% and the benchmark repurchase rate at 6.5% on Friday.</p>
<p>India’s foreign currency reserves surpassed USD 600 billion for the first time in about four months on December 1, reaching USD 604 billion, according to the most recent RBI statistics.</p>
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