Oddbean

Rupee rises 8 paise to 83.89 against US dollar in early trade ========== The Indian rupee appreciated by 8 paise to 83.89 against the US dollar in early trade. This was supported by a positive trend in domestic equities and a decline in the US dollar index. The rupee opened at 83.95 against the greenback and touched 83.89, registering a rise of 8 paise over its previous closing price. The Reserve Bank of India's monetary policy announcement has led to markets awaiting US CPI data, India CPI, WPI and IIP data, and India's trade data, all scheduled to be released next week. The Jackson Holes Symposium, to be held after next week, will also remain in focus. The rupee is likely to trade in a narrow range of 83.90/84.00 for the day after the RBI kept key benchmark rates on hold. The dollar index was trading 0.03% lower at 103.17. Brent crude, the global oil benchmark, advanced 0.15% to USD 79.28 per barrel. Market analysts do not anticipate sharp fluctuations in the rupee. #Rupee #UsDollar #ReserveBankOfIndia #Forex https://www.newindianexpress.com/business/2024/Aug/09/rupee-rises-8-paise-to-8389-against-us-dollar-in-early-trade