WEEKLY CURRENCY REPORT: RUPEE APPECIATED 0.26% OR 19 PAISE AGAINST US DOLLAR ON A WEEKLY BASIS

Currency market remained positive in this week amid softening of crude oil prices and steady FII inflows. On a weekly basis, the rupee ended 19 paise or 0.26 per cent higher at 72.74 against US dollar. For this week, USD/INR touched low at 72.66 and high at 72.98. On Monday, the Rupee started the trade higher at 72.86 but fell by 3 paise to close at 72.96 against the US dollar, weighed down by a strong dollar sentiment and high demand for the greenback importers. However, sustained foreign fund inflows and strong gains in equity market restricted the rupee’s fall. The rupee closed 8 paise higher at 72.89 against the US dollar on Tuesday amid weakness in Dollar and rise in risk appetite in the global markets. However, surging crude prices and subdued domestic equity market hit the rupee sentiment and restricted the gain. The rupee closed 6 paise higher at 72.83 against the US dollar on Wednesday. The Indian rupee ended 2 paise lower at 72.86 against the US dollar amid a firm trend in the domestic equity markets on Thursday. The rupee gained 13 paise against the US dollar on Friday, to settle at 72.74, ahead of the release of key macro-economic data - consumer inflation and industrial production, amid sustained foreign capital inflows.