Best Forex (Click Here For Best Forex Techniques) robot
By: PTI|Mumbai |
Published: July 14, 2020 11: 47: 04 am
A customer counts Indian one-hundred rupee banknotes before transferring them in India. Professional Photographer: Dhiraj Singh/Bloomberg
The rupee depreciated 16 paise to 75.35 versus the United States dollar in opening trade on Tuesday tracking weak domestic equities and strengthening American currency.
The rupee opened at 75.33 at the interbank Forex (Click Here For Best Forex Techniques) market, then lost ground and touched 75.35 versus United States dollar, down 16 paise over its last close.
It had settled at 75.19 versus the United States dollar on Monday.
Forex (Click Here For Best Forex Techniques) traders stated steady petroleum costs and foreign fund inflows supported the rupee, while factors like strong dollar, unfavorable domestic equities and rising COVID-19 cases dragged the regional unit down.
Moreover, investor sentiment deteriorated after India’s June Consumer Price Index (CPI) breached Reserve Bank of India’s tolerance band of 6 percent, traders said.
Retail inflation increased to 6.09 per cent in June, primarily on account of higher rates of food items, federal government information revealed on Monday.
Food inflation in June increased by 7.87 per cent, according to the CPI data.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, increased 0.11 per cent to 96.56
On the domestic equity market front, the 30- share BSE criteria Sensex was trading 276.12 points lower at 36,41757 and broader NSE Nifty fell 80.90 indicate 10,72180
Foreign institutional financiers were net purchasers in the capital market as they acquired shares worth Rs 221.76 crore on Monday, according to provisional exchange information.
Brent crude futures, the global oil standard, fell 2.01 percent to USD 41.86 per barrel.
On the other hand, the number of cases all over the world linked to COVID-19 has crossed 1.30 crore and the death toll has topped 5.72 lakh.
In India, the death toll due the illness increased to 23,727 and the number of infections crossed 9-lakh mark, according to the health ministry.
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