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Rupee Declines to ₹83.95; Amid Strong Dollar Demand and Domestic Stock Gains

On Thursday, the rupee fell slightly to ₹83.95 amid strong dollar demand. Domestic stocks rose, but FIIs sold ₹799.74 crore worth of shares, while Brent crude edged up to USD 76.06.
Rupee Declines to ₹83.95; Amid Strong Dollar Demand and Domestic Stock Gains

On Thursday morning, the Indian rupee traded within a narrow range. Positive gains in domestic stocks were offset by persistent dollar demand from importers. The rupee started at ₹83.93 and declined slightly to ₹83.95, losing 5 paise from the previous day.

On Wednesday, the rupee had fallen by 13 paise, closing at ₹83.90 against the US dollar. The dollar index, which measures the dollar’s strength against six other major currencies, rose by 0.17% to 101.21 points.

Brent crude oil, a global benchmark, saw a minor increase of 0.01%, reaching USD 76.06 per barrel in futures trading. 

In domestic stock markets, the BSE Sensex went up by 166.66 points, or 0.21%, closing at 81,071.96 points. Similarly, the Nifty index rose by 55.10 points, or 0.22%, to end at 24,825.30 points.

Foreign Institutional Investors (FIIs) were net sellers on Wednesday. They sold shares worth ₹799.74 crore, as reported by exchange data.

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