The rupee depreciated to a new intraday low of 84.52 per dollar on Thursday, driven by month-end dollar demand and foreign portfolio investors (FPIs) selling domestic equities, according to dealers.
The Reserve Bank of India (RBI) intervened in the foreign exchange (forex) market by selling dollars during the closing hours, which helped the domestic currency recoup some losses.
The local currency settled at 84.49 per dollar on Thursday, compared to 84.45 per dollar on Wednesday.
"There was month-end dollar demand, and foreign banks were also buying dollars throughout the day," said a dealer at a state-owned bank. "The RBI stepped in towards the end and could have sold around $600 million," he added.
Diese Geschichte stammt aus der November 29, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 29, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
A global outreach beyond business
An ancient civilisation with a modern outlook, India has a lot of fine strengths – in cinema, sports, art, culture, food, yoga – that it is building on
Union Carbide waste disposal: Protests rock Pithampur, 2 attempt self-immolation
Two persons on Friday attempted self-immolation, adding to tensions in Pithampur, Madhya Pradesh, as protests against the planned disposal of 337 tonnes of hazardous waste from Bhopal's defunct Union Carbide factory continued in the small industrial town.
Over 500 flights delayed, 24 train ops hit in Delhi
Palam airport records zero visibility from 8 am to 9.30 am Friday
AFTER SINDHU, WHO?
Women's badminton faces uncertainty due to a shrinking talent pool, lack of quality coaches, and overreliance on Gopichand
No cause for alarm: Indian health officials on hMPV spread in China
As the world marks the fifth anniversary of the Covid-19 pandemic in 2025, another flu-like illness has emerged, though Indian officials insist there is no reason to panic.
Jefferies: '25 may be year of monetary easing in India
Brokerage raises target price for HDFC, ICICI Bank
Avenue Supermarts hits 15% upper circuit after Q3 update
Avenue Supermarts (owner of DMart retail chain) shares clocked 15 per cent upper circuit in trade on BSE at ₹4,160.4 per share on Friday. Buying in the stock sparked after the company released its Q3 business update.
Film producer Vipul Shah's Sunshine Pictures files DRHP
Film and television producer-director Vipul Shah-backed Sunshine Pictures has filed draft papers with the market regulator Sebi to raise funds through an initial public offering (IPO).
MFs' Equity Buying Topped ₹4 Trillion in 2024
Mutual funds' (MFs) equity buying jumped over twofold in 2024 to top ₹4 trillion for the first time.
Quadrant Future fixes price band at ₹275-290, offer opens on Jan 7
Quadrant Future Tek on Friday said it has fixed the price band at ₹275-290 per equity share for its ₹290-crore initial public offering (IPO) that will open for public subscription on January 7.
