The rupee surged 12 paise to 74.33 against the U.S. dollar in opening trade on November 15 as a firm trend in domestic equities and easing crude oil prices boosted investor sentiments.<\/p>\n
At the interbank foreign exchange, the rupee opened strong at 74.38 against the dollar and gained further ground to 74.33 in early deals, a rise of 12 paise over its previous close.<\/p>\n
On November 12, the rupee had settled at 74.45 against the U.S. dollar.<\/p>\n
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, as the dollar index rises and oil prices fall, rupee is likely to move within a range of 74.20 to 74.60 for the day.<\/p>\n
"With three listings on Wednesday, outflow could be seen particularly that of Paytm… India CPI came a tad higher at 4.48 per cent while IIP came a bit lower at 3.1%. Oil prices have fallen to 81.50 while dollar Index has risen to 95.10," Mr. Bhansali said, adding that exporters can take a call to sell at 74.55 while importers may buy near to 74.20.<\/p>\n
Meanwhile, the dollar index, which gauges the greenback\u2019s strength against a basket of six currencies, fell 0.12% to 95.01.<\/p>\n
Global oil benchmark Brent crude futures fell 0.82% to $81.50 per barrel.<\/p>\n
On the domestic equity market front, BSE Sensex was trading 144.4 points or 0.24% higher at 60,831.09, while the broader NSE Nifty advanced 27.75 points or 0.15% to 18,130.50.<\/p>\n
Foreign institutional investors were net buyers in the capital market on November 12 as they purchased shares worth \u20b9511.10 crore, as per exchange data.<\/p>\n