Rupee weakens on dollar demand, elevated crude oil prices
The Indian rupee closed at 95.22, reflecting a minor drop attributed to ongoing market pressures. With traders exercising caution ahead of the critical decision from the US Federal Reserve, the prevailing demand for dollars and high oil prices are...
By ET Bureau | Updated:
Reuters
The Indian rupee closed slightly weaker at 95.22 on Wednesday.
Mumbai: The Indian rupee closed slightly weaker at 95.22 on Wednesday, as traders remained on the sideline ahead of the US Fed decision, while dollar demand and high oil prices continued to put pressure.
Read more: These 7 private and public banking stocks have an upside of up to 27% in one year, according to analysts
The rupee had previously closed at 95.11. It traded between 95.25 and 95.00, with the RBI likely capping depreciation past the 95.25 levels. The RBI was also present in the non deliverable forwards market before the domestic marks opened.
Read more: From 104 shareholders to nearly 80 lakh! Jio becomes India's most widely owned stock on listing day
Read more: These 7 private and public banking stocks have an upside of up to 27% in one year, according to analysts
The rupee had previously closed at 95.11. It traded between 95.25 and 95.00, with the RBI likely capping depreciation past the 95.25 levels. The RBI was also present in the non deliverable forwards market before the domestic marks opened.
Read more: From 104 shareholders to nearly 80 lakh! Jio becomes India's most widely owned stock on listing day
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