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Rupee jumps 13 paise to 78.90 per dollar from record low

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The rupee had closed at its all-time low of 79.03 against the US dollar in the previous session.

Mumbai:

On Thursday, the rupee recovered by 13 paise to 78.90 against the US dollar, recovering from its record low.

The rupee opened at 78.92 against the US dollar at the Interbank Foreign Exchange. In early trade, the local currency saw a high of 78.90 and a low of 78.94 against the US Dollar.

The rupee had closed at its all-time low of 79.03 against the US dollar in the previous session.

According to Shriram Iyer, Senior Research Analyst, Reliance Securities, the range of rupee today is 78.65-79.05.

“Asian currencies are beginning to mix, but currencies could remain under pressure after Fed Chair Jerome Powell said the US central bank interest rate hike would slow the economy significantly,” Iyer said.

On the domestic equity market front, the 30-share Sensex was trading 337.14 points or 0.64 per cent higher at 53,364.11, while the broader NSE Nifty was trading 84.00 points or 0.53 per cent higher at 15,883.10.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.07 per cent to 105.03.

Global oil benchmark Brent crude futures rose 0.07 per cent to $116.34 per barrel.

Foreign institutional investors remained net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 851.06 crore, according to exchange data.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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