Key Points
Mumbai, Jan 5 (PTI) The rupee appreciated 9 paise to close at 83.15 against the US dollar on Friday, helped by a positive trend in domestic equities and fresh foreign capital inflows...
However, rising crude oil prices in international markets and a strong greenback overseas restricted gains for the local unit, forex traders said...
The dollar inflows and stable crude oil prices helped the rupee to buck the past two weeks bearish trend, said Dilip Parmar, Research Analyst at HDFC Securities...
Traders will also closely watch Indias 2024 growth forecast for next weeks rupee directions, Parmar said, adding that from the level front, spot USD/INR has support at 83.10 and resistance at 83.35...
The rupee gained despite weaker its Asian peers as traders turned cautious ahead of key US labour market data release later in the day, Sriram Iyer, Senior Research Analyst at Reliance Securities, said.. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they bought shares worth Rs 1,696.86 crore, according to exchange data...
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