Mumbai: The rupee on Thursday fell 102 paise to close at 75.63 (provisional) against the US currency at the forex exchange market, impacted by demand for riskier assets after the start of Russia’s military operation against Ukraine. Traders said continued outflow of foreign exchange, heavy selling in domestic equity markets and rise in crude oil prices weighed on investor sentiments.
The rupee went down to Rs 75.75 after opening at 75.02 per dollar in the interbank foreign exchange market. In the end, the rupee closed with a strong fall of 102 paise at 75.63 per dollar. Meanwhile, the dollar index, which shows the trend of the dollar against the six currencies, rose 0.74 per cent to 96.90. Brent crude, considered the global benchmark, rose 8.36 per cent to $104.94 per barrel.
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Dilip Parmar, Research Analyst, HDFC Securities, said, “The rupee was the worst-performing currency among Asian currencies due to demand for dollar in the month from oil importers. At the same time, after Russia’s attack on Ukraine, there has been an increase in dollar demand for investment in safe assets. The 30-share Sensex of the Bombay Stock Exchange closed at 54,529.91 points, down 2,702.15 points. According to stock market data, foreign institutional investors remained net sellers in the capital market. He sold shares worth Rs 3,417.16 crore on Wednesday. (agency)