The rupee weakened by 17 paise to 85.90 against the US dollar on Wednesday due to a stronger greenback and weak domestic equities. A dip in Brent crude prices helped limit further losses. FIIs sold Rs 26 crore worth of shares.
The rupee appreciated by 23 paise to 85.49 against the US dollar on Friday, backed by strong FII inflows and buoyant equity markets. However, a rise in Brent crude prices and a stronger dollar index limited further appreciation.
The rupee appreciated by 7 paise to 85.46 against the US dollar, supported by a weak dollar index, falling crude oil prices, and positive equities. However, FII outflows and anticipation of CPI data capped further gains, traders said.
The domestic equity markets rebounded with the 30-share BSE Sensex rising 117.57 points to 74,571.98 in early trade, while Nifty was up 31.3 points to 22,584.65
The rupee is expected to trade in a range of 86.35-75 as the market gives opportunity for both exporters and importers to sell and buy their currencies: Anil Kumar Bhansali
