Rupee drops 36 paisa to 82.87 US cents at the close.

by Mapping Returns

On Tuesday, the rupee lost 36 paise to end the day at 82.87 (provisional) against the US dollar as a result of ongoing foreign capital flight from the capital markets.
Trading was impacted by investors’ risk aversion before to the US Federal Reserve’s interest rate announcement, according to currency dealers.
The rupee opened down at 82.63 against the dollar on the interbank foreign exchange market, with a high of 82.60 and a low of 82.87.
The final price, which was 36 paise lower than the previous close of 82.51, was 82.87.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.15 percent to 104.98.

The benchmark for world oil, Brent crude futures, increased 1.73 percent to USD 79.32 a barrel.
The 30-share BSE Sensex closed at 62,533.30, up 402.73 points, or 0.65%, on the domestic equity market. The NSE Nifty, a more inclusive index, increased 110.85 points, or 0.60 percent, to 18,608.
According to exchange data, Foreign Institutional Investors (FIIs) continued to be net sellers on Monday in the capital markets, selling shares worth Rs 138.81 crore.
Retail inflation fell below the RBI’s upper tolerance level of 6% in November for the first time in 11 months as a result of falling food costs, but the central bank may wait for further information before halting interest rate increases.

According to information made public by the National Statistical Office (NSO) on Monday, inflation measured by the consumer price index (CPI) fell for the second consecutive month, to 5.88% in November from 6.77% in October 2022. In November of the previous year, it was 4.91 percent.
The steepest loss in 26 months, India’s industrial production fell by 4% in October, mostly as a result of a decline in manufacturing output and weak performance in the mining and power generation sectors.

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