USD/Rupee: The stock markets continue to fall. Today the rupee closed with a rise of 2 paise against the US dollar. Rupee opened with a gain of 6 paise in early trade. Rising crude oil prices and negative trend in equities kept the Indian currency in a tight range. (Jaglan data map)

Agency, New Delhi. Rupee is trading in a limited range today. At the close, the exchange rate closed 2 paise higher at 83.28 (provisional) against the US dollar. Forex traders said positive macroeconomic data supported the rupee, while geopolitical tensions, particularly the conflict between Israel and Hamas, weighed on investor sentiment.

In the interbank foreign exchange market today, the local currency opened at 83.25 against the US dollar, with an intraday trading range of 83.24 to 83.28.

Finally, the rupee closed at 83.28 (provisional), up 2 paise from its previous close. On Friday, the rupee fell 6 paise to close at 83.30 against the US dollar.

Data released by the government showed that the Wholesale Price Index inflation rate remained in negative territory for the sixth consecutive month in September at (-) 0.26% due to weak food prices.

Meanwhile, the US dollar index fell 0.13% to 106.51. Brent crude futures, the global oil benchmark, fell 0.08% to $90.82 a barrel.

stock market situation

Today BSE Sensex fell 115.81 points or 0.17% and closed at 66,166.93 points. The NSE Nifty composite index fell 19.30 points, or 0.1%, to 19,731.75. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 317.01 crore on Friday.

The Reserve Bank of India on Friday said the country’s foreign exchange reserves declined by US$2.166 billion to US$584.742 billion in the week ended October 6. India’s foreign exchange reserves declined by US$ 3.794 billion to US$ 586.908 billion last week.