Overview
- The rupee closed at 89.36 per dollar on Thursday, down 14 paise after trading between 89.19 and 89.40.
- Dealers pointed to increased greenback buying by importers and banks for month-end settlements, with the dollar index near 99.63.
- Brent futures hovered around $63 a barrel, and the Sensex and Nifty finished slightly higher, softening the currency’s decline.
- Foreign investors swung from net purchases on Wednesday (Rs 4,778.03 crore) to net sales on Thursday (Rs 1,255.20 crore), contributing to volatility.
- Markets continue to price U.S. Federal Reserve rate cuts in the coming months, a medium-term dollar‑weakening factor that has yet to overcome near-term import demand.