The rupee gained 46 paise to 78.94 against US Dollar in early trade on Friday. August 5, 2022 saw this gain ahead of the Reserve Bank of India’s policy meeting outcome.
The rupee opened at 79.15 against the US Dollar at the interbank foreign exchange and touched 78.94, thus gaining 46 paise over the last close. Whereas on Thursday, the rupee depreciated by 25 paise close to close at 79.40 against the US Dollar.
In the initial deals, the Indian unit saw an early high of 78.94 and low of 79.17 against the US Currency.
Persistent foreign fund flowing into capital markets and softening crude oil prices facilitated the Indian currency to levitate.
The dollar index on the other hand advanced to 0.14 percent to 105.84.
The global oil benchmark Brent crude futures also gained 0.22 percent to USD 94.33 per barrel.
The foreign institutional investors on Thursday purchased shares worth Rs 1,474.77 crore as per exchange data. They remained net buyers in the capital market on Thursday.
The 30-share sensex traded 220.47 points on the domestic equity front or 0.38 per cent higher at 58,519.27.
The central bank updated that it will gradually withdraw its accommodative monetary policy stance.
The bi-monthly review from the Reserve Bank of India is anticipated, as RBI’s “Monetary Policy Committee” will announce it later today.
