The rupee rebounded from its all-time low to shut 5 paise increased at 78.98 (provisional) towards the US greenback on Thursday.
On the interbank foreign exchange market, the native unit opened at 78.92 towards the buck and witnessed an intra-day excessive of 78.90 and a low of 78.99.
It lastly settled at 78.98, an increase of 5 paise over its earlier shut.
The rupee had breached the psychologically vital degree of 79 per greenback degree for the primary time ever on Wednesday and has additionally hit a collection of lifetime lows this month.
“The near-term outlook stays bearish for the rupee amid overseas fund outflows and risk-averse moods. Spot USD-INR is having assist at 78.38 and resistance at 79.10.
“Wanting on the previous few days’ value motion, we may see revenue reserving within the pair earlier than heading increased in direction of 79.10,” stated Dilip Parmar, Analysis Analyst, HDFC Securities.
On the home fairness market entrance, the BSE Sensex ended 8.03 factors or 0.02 per cent decrease at 53,018.94, whereas the broader NSE Nifty declined 18.85 factors or 0.12 per cent to fifteen,780.25.
The greenback index, which measures the buck’s power towards a basket of six currencies, was up 0.06 per cent at 105.16.
Brent crude futures, the worldwide oil benchmark, fell 0.17 per cent to USD 116.06 per barrel.
International institutional buyers remained web sellers within the capital market on Wednesday as they offloaded shares value Rs 851.06 crore, as per trade knowledge.
