INSUBCONTINENT EXCLUSIVE:
On Tuesday, the rupee had appreciated by 10 paise to 68.86.
The rupee weakened marginally by 2 paise
to close at 68.88 against the dollar on Wednesday, reported news agency Press Trust of India (PTI)
Increased demand for the US currency from importers weighed on the rupee, traders were quoted as saying in the PTI report
However, sustained foreign fund inflows and easing crude oil prices cushioned the fall, they said
On Tuesday, the rupee had appreciated by 10 paise to 68.86
domestic currency opened lower at 68.98 a dollar but soon pared some losses
billion against the notified amount of $5 billion."RBI received an overwhelming response to its dollar swap window, establishing the
instrument as a credible liquidity tool and paving the way for more such auctions in the coming months," said Mr Sharma.According to Mr
Sharma, global yields have declined in recent weeks, dragged down by the US Federal Reserve's recent dovish pivot
"This fall in yields reflects moderating growth expectations in the developed markets, and likely dovish-for-longer central bank policies,"
he said.Analysts now expect the rupee to trade in a range of 68.85-69.25 against the dollar in the near term.Foreign institutional investors
(FIIs), meanwhile, remained net buyers in the capital markets, putting in Rs 1,481.11 crore on Wednesday, provisional data from the NSE
showed.Foreign portfolio investors have so far this month net purchased equities worth Rs 4,050.95 crore, data from the NSDL showed.Brent
crude futures, the global oil benchmark, slipped 0.12 per cent to $67.89 per barrel on Wednesday.The 30-share BSE Sensex settled 100.53
points, or 0.26 per cent lower at 38,132.88, while the broader NSE Nifty slipped 38.20 points, or 0.33 per cent, to 11,445.05.(With agency
inputs)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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