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The Rupee Added, But Still Ended The Current Fiscal Year With A Loss Of Over 3.5%.


The rupee surged to end at 75.76 per dollar; still recorded a loss of over 3.5% in FY22

The energy-sensitive rupee rose to 75.67 against the dollar, tracking a sharp fall in oil prices, but ended fiscal year 2021-22 with a loss of over 3.5 percent.

Tracking a sharp fall in global oil prices, the rupee gained a touch to close FY22 at 75.67 per dollar, but that marked a loss of 264 paise or 3.61 per cent, according to PTI.

Reuters quoted the last rupee at 75.70 against the US dollar.

While the domestic equity benchmark closed lower on Thursday, stopping three consecutive sessions of gains in volatile trading, the rupee gained touch to close at 75.67 against the dollar from 75.90 on Wednesday.

In the interbank forex market, the rupee opened at 75.67 and ranged between a high of 75.66 and a low of 75.83.

That was driven primarily by benchmark Brent crude futures falling sharply more than 6 percent to last trade at $ 106.8 a barrel.

What has also enhanced the attractiveness of the rupee is the statement from the International Monetary Fund that India has received a record number of foreign direct investment in recent years despite the COVID-19 crisis and has some hedges to reduce risk from capital. flowing.

The forex reserves of the Reserve Bank of India of over $ 600 billion are one such protection.

The latest stock exchange data showed foreign institutional investors (FII) remained net buyers in the capital market on Wednesday when they bought shares worth ₹ 1,357.47 crore.

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