On Wednesday, the rupee was trading at about 69.18 level by rising 12 paise against the US dollar in early trade. According to the provisional figures, on Tuesday, foreign investors (FIIs) invested Rs 1,212.35 crore on pure market in the domestic markets and remained net buyers. However, today the rupee opened at 69.33 with a weakness of 4 paise, but later it saw recovery. The rupee was closed at 69.30 against the dollar on Tuesday.
Investors' eyes are focused on inflation and industrial production figures. The inflation rate and IIP data will be released at the end of this week. Apart from this, there is a possibility of several figures being released at the global level today. Yesterday, the IMF released a forecast of global economic growth. In this report, estimates of GDP growth of other major countries along with India were released.
According to the brokerage firm Motilal Oswal Financial Services, today the exchange rate is expected to bid in the range of 69.40 and 70.20. Before the details of the important FOMC meeting to be released today, there is pressure in the dollar against other major currencies of the world. In addition to the FOMC minutes, all the parties involved in the market are also on the details of the ECB (European Central Bank).
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| Rupee closing at 69.30 against dollar on Tuesday |
Investors' eyes are focused on inflation and industrial production figures. The inflation rate and IIP data will be released at the end of this week. Apart from this, there is a possibility of several figures being released at the global level today. Yesterday, the IMF released a forecast of global economic growth. In this report, estimates of GDP growth of other major countries along with India were released.
According to the brokerage firm Motilal Oswal Financial Services, today the exchange rate is expected to bid in the range of 69.40 and 70.20. Before the details of the important FOMC meeting to be released today, there is pressure in the dollar against other major currencies of the world. In addition to the FOMC minutes, all the parties involved in the market are also on the details of the ECB (European Central Bank).
For more information Best Advisory Companyin Indore
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