Image used for representational purpose.
| Photo Credit: Vivek Prakash
The rupee opened 1 paisa higher at 83.67 against the U.S. currency on August 1 after the Federal Reserve held the rates, but said a September rate cut could be on the table.
The U.S. dollar declined marginally in overseas markets but Brent crude oil prices rose further, limiting gains for the domestic currency.
At the interbank currency exchange, the domestic currency opened at 83.67, 1 paisa higher than the previous day’s close.
Also read | Sensex rises 388 points, Nifty breaches record 25,000-mark
The domestic currency moved in a tight range of 83.67-83.69.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.13% to 103.96 points.
Brent crude — the global oil benchmark — rose 2.26% to $80.41 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex crossed the 82,000-mark for the first time, while Nifty touched a record high of 25,000.
Foreign institutional investors were net sellers in the capital markets on Wednesday and offloaded shares worth ₹3,462.36 crore, according to exchange data.
