Rupee rises against Greenback, Crude Oil ease

Market Update

The domestic currency made a footing against the US dollar on Thursday in the midst of easing crude oil prices.

Crude Oil prices declined for a five consecutive session on Thursday with Brent crude was lower by 1.2-pc, at USD 52.80 a barrel, while WTI futures slipped by 1.3 percent, to USD48.08 a barrel.

Weak Indian equities today not allowed to rise the currency as investors continued to remain worried about the outbreak of Coronavirus outside China. Avail Mcx crude tips from our Experts.
Meanwhile, the market-players will also be closely on lookout of release of the third-quarter Gross-Domestic-Product or GDP-nos, which is due on Friday, the 28-February.

As per stock exchange data, the Foreign Institutional Investors sold shares in value Rs.3336.60-Cr on 26-February, On the global perspective, the American dollar held gains versus YEN as the growing worries over Coronavirus pandemic, which strengthened demand for the safety of US treasuries.

The rupee is at currently (at 1.45-pm) trading at 71.62, firmer by 3 percent from its previous close of 71.65 on Wednesday. The Indian rupee touched a high of 71.69 and a low of 71.60 each.

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