Rupee falls 15 paise to 83.34 against US dollar
Mumbai (PTI): The rupee declined 15 paise to settle at 83.34 against the US dollar on Wednesday due to sustained outflow of foreign funds and increased demand for American currency from importers and banks.
According to forex traders, a robust buying trend in the domestic equity market failed to boost sentiment as investors remained concerned over volatile crude oil prices, fearing disruption in global trade through the Red Sea route.
At the interbank foreign exchange, the domestic currency opened at 83.21 and traded between the peak of 83.20 and the lowest level of 83.35 against the dollar during intra-day deals. The local unit finally settled at 83.34 against the greenback, registering a fall of 15 paise from its previous close.
On Tuesday, the domestic currency settled at 83.19 against the dollar.
Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the Indian rupee depreciated on dollar demand from foreign banks and importers.
"FII outflows also weighed on the rupee. However, positive domestic markets and the weak tone in the US dollar cushioned the downside," he said but added that the rupee is likely to trade with a slight negative bias on month-end dollar demand from oil marketing companies and importers.
"USD-INR spot price is expected to trade in a range of Rs 83 to Rs 83.70," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower at 101.07 on Wednesday.
Global oil price benchmark Brent crude slipped 0.16 per cent to USD 80.94 per barrel.
In the domestic equity market, the 30-share BSE Sensex jumped 701.63 points or 0.98 per cent to settle at a fresh peak of 72,038.43 points. The broader NSE Nifty soared 213.40 points or 1 per cent to 21,654.75 points.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,926.05 crore on Wednesday, according to exchange data.
According to Jateen Trivedi, VP Research Analyst at LKP Securities, the dollar index's weakness has generally kept the rupee stable within this range.
"However, the broader trend is a gradual decline over the past few months, with the RBI providing support around the 83.40-83.50 zones. The global holiday week shall keep range bound volatility continued with range break possible on lower side likely in coming sessions," Trivedi said.
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CSK rope in South African Dewald Brevis as replacement for injured Gurjapneet
New Delhi, Apr 18 (PTI): Chennai Super Kings on Friday announced the roping in of South Africa all-rounder Dewald Brevis, one of the most exciting young cricketers in the world, into their squad, replacing injured pacer Gurjapneet Singh for the remainder of the IPL.
Brevis, who has played two T20 Internationals after making debut in 2023, has made a name in franchise tournaments around the world, including playing in the IPL, CPL, MLC and SA20.
He was the sixth-highest run-scorer with 291 at a strike rate of 184.17 in the 2025 SA20, helping MI Cape Town win their first title.
"Chennai Super Kings (CSK) have signed South Africa's Dewald Brevis as a replacement for the injured Gurjapneet Singh for the remainder of the TATA Indian Premier League (IPL) 2025," the IPL said in a media statement.
The 21-year-old Brevis was previously part of Mumbai Indians (MI) in 2022 and 2024, and played 10 matches.
He has played 81 T20s and scored 1787 runs with a highest of 162.
He is often referred to as 'Baby AB’ for the similarity of his looks and playing style with the legendary AB de Villiers
Brevis will join CSK for Rs 2.2 crore.
🚨 OFFICIAL STATEMENT 🚨
— Chennai Super Kings (@ChennaiIPL) April 18, 2025
Gurjapneet Singh ruled out of IPL 2025 due to an injury.
Wishing him a speedy recovery! 💪🏻💛#WhistlePodu #Yellove 🦁💛 pic.twitter.com/4NWmxF5ODu
Bringing a whole lot of Protea Firepower! 💪🏻#WhistlePodu #Yellove 🦁💛 pic.twitter.com/9seFMWU1fI
— Chennai Super Kings (@ChennaiIPL) April 18, 2025
