Rupee slumps 38 paise to close at 95.46 against US dollar

Rupee slumps 38 paise to close at 95.46 against US dollar

The Indian rupee slipped by 38 paise, settling at 95.46 against the US dollar on Thursday, influenced by Brent crude oil prices rising above USD 102 per barrel. Forex traders highlighted conflicting factors affecting the currency, such as portfolio outflows alongside costly crude prices. While the dollar index weakened, Brent crude futures climbed. Meanwhile, domestic equities thrived with the Sensex and Nifty trending upward.

Quote of the day by Daniel Kahneman: "When deciding to sell, people have control over whether to give themselves pleasure or give themselves pain, and they tend to give themselves pleasure. In other words, they tend to sell winners and hang on to losers. It turns out to be a bad idea."