Rupee opens nearly 5 paise down at 67.06 against dollar
NEW DELHI: The rupee opened nearly 5 paise down at 67.06 against dollar on Monday on account of selling of Amercian currency by banks and exporters.
Meanwhile, the domestic equity market opened on a flat note following mixed global cues. The 30-share BSE Sensex opened 13.16 points, or 0.05 per cent, up at 28,481.91, while the 50-share NSE Nifty index opened 3.15 points, or 0.04 per cent, down at 8,815.55.
Angel Broking in a release said, USDINR spot is expected to depreciate in Monday’s trading session following weak trading in Asian market equities.
However, Nirmal Bang Commodities said, “Trading in the expected intraday range of 66.96-67.22 is recommended.”
The currency on Friday closed 6 paise up at 67.01 against dollar. According to ICICIdirect.com, the rupee strengthened post a weak opening due to gains in equities. Rising March US interest rate hike probability would weigh on emerging currencies including rupee. US February employment data remains a catalyst for a rate hike probability before scheduled March FOMC meet.
Government bond yields rose for a second week, after the central bank governor’s renewed emphasis on sticky core inflation, which had prompted a shift in Monetary Policy Committee’s stance. The benchmark 6.97% 2026 bond yield remained steady at 6.85 per cent on Friday.
Foreign institutional investors (FIIs) sold shares worth Rs 196.37 crore in domestic equity market on Friday with gross purchases and gross sales of Rs 5,085.23 crore and Rs 5,281.60 crore, respectively.
Meanwhile, the domestic equity market opened on a flat note following mixed global cues. The 30-share BSE Sensex opened 13.16 points, or 0.05 per cent, up at 28,481.91, while the 50-share NSE Nifty index opened 3.15 points, or 0.04 per cent, down at 8,815.55.
Angel Broking in a release said, USDINR spot is expected to depreciate in Monday’s trading session following weak trading in Asian market equities.
However, Nirmal Bang Commodities said, “Trading in the expected intraday range of 66.96-67.22 is recommended.”
The currency on Friday closed 6 paise up at 67.01 against dollar. According to ICICIdirect.com, the rupee strengthened post a weak opening due to gains in equities. Rising March US interest rate hike probability would weigh on emerging currencies including rupee. US February employment data remains a catalyst for a rate hike probability before scheduled March FOMC meet.
Government bond yields rose for a second week, after the central bank governor’s renewed emphasis on sticky core inflation, which had prompted a shift in Monetary Policy Committee’s stance. The benchmark 6.97% 2026 bond yield remained steady at 6.85 per cent on Friday.
Foreign institutional investors (FIIs) sold shares worth Rs 196.37 crore in domestic equity market on Friday with gross purchases and gross sales of Rs 5,085.23 crore and Rs 5,281.60 crore, respectively.
