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Business News/ Markets / Stock Markets/  Rupee ends 1 paise lower at 83.28 against the US dollar
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Rupee ends 1 paise lower at 83.28 against the US dollar

The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.01% at 105.58.

Rupee ended 1 paise lower at 83.28 a dollar as compared to its previous close of 83.27. (Photo: Reuters)Premium
Rupee ended 1 paise lower at 83.28 a dollar as compared to its previous close of 83.27. (Photo: Reuters)

The Indian rupee ended Thursday's range-bound session little changed against the US dollar amid a negative trend in domestic equities and sustained foreign fund outflows. The local unit ended 1 paise lower at 83.28 a dollar as compared to its previous close of 83.27.

The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.01% at 105.58.

On Wednesday, the rupee closed at 83.27 against the US dollar.

The US Federal Reserve Chair Powell did not comment on the course of the Fed's monetary policy in his Wednesday's speech. On Thursday, he will participate in a panel discussion on monetary policy challenges.

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“Markets will look for clues to the Fed's monetary policy course," Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said.

“The pair is expected to continue to range trade between 82.80 and 83.50 in the near-term," Singh said.

Meanwhile, Brent crude futures, the global oil benchmark, was trading 0.87% higher at $80.23 per barrel.

On the domestic front, the benchmark equity indices ended lower amid mixed global cues.

The BSE Sensex fell 143.41 points, or 0.22%, to close at 64,832.20, while the NSE Nifty 50 ended 48.20 points, or 0.25%, lower at 19,395.30.

According to exchange data, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth 84.55 crore.

(With inputs from PTI)

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 09 Nov 2023, 10:33 AM IST
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