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According to
On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar.
Traders said market participants are awaiting the
The decision taken at the meeting of the Reserve Bank Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to be announced later in the day.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at 104.33, higher 0.20 per cent.
Brent crude futures, the global oil benchmark, rose 0.40 per cent to USD 91.01 per barrel.
Forex traders said the rupee is likely to trade with a slight negative bias on the surge in crude oil and gold prices. Renewed geopolitical tensions in the Middle East and selling pressure from FIIs may also weigh on the rupee.
On the
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,136.47 crore, according to exchange data.
On the domestic macroeconomic front, India’s services sector witnessed one of the strongest growth rates in over 13-and-a-half years in March on the back of strong demand that spurred sales and business activity.