The rupee today took a hard 43-paise knock to close below the 69 level for the first time at a historic low of 69.05 against the US currency as upbeat comments on the US economy by the Federal Reserve chairman drove the greenback to one-year high levels higher against global currencies.
Sensex ended lower by 22.21 points at 36,351.23, while the NSE Nifty shed 23.35 points to 10,957.10.
The rupee fell back sharply from a two-week high, depreciating by 17 paise to end at 68.62 against the US currency on renewed dollar demand from banks and importers even as crude oil hovered near its multi-month lows.
The govt said it would revisit the AI disinvestment plan after oil prices, foreign exchange and other global economic indicators stabilise.
World stocks hit a one-month high on Wednesday as a bullish outlook from the head of the U.S. central bank and rising company earnings buoyed the mood, lifted the dollar and sent safe-haven gold to a one-year trough.
The rupee today bounced back to settle at a fresh two-week high of 68.45 against the US currency, gaining 12 paise as crude oil prices beat a hasty retreat, easing inflation and trade deficit worries.
Boeing raised its 20-yr industry forecast for passenger and cargo aircraft, as a steady flow of deals on day two of Farnborough Airshow underscored the industry’s resilience to rising global trade tensions.
Goldman said it expects Brent to retest $80 per barrel, although this may occur only late this year depending on US oil policies.
The rupee retreated from a near two-week high and ended lower by 4 paise at 68.57 against the US currency, snapping a three-session recovery trend due to renewed dollar demand.
U.S. stocks were trading flat on Monday as a sharp drop in crude oil prices weighed on energy companies, offsetting a rebound in financials stocks after Bank of America’s strong results reinforced expectations of a strong earnings season.