Mumbai, Aug 12:The Endian rupee depreciated l2 paise at close on Thursday after reversing early gains due to a sharp rise in crude oil prices. At the inter-bank foreign exchange market rupee ended at 79.64 after opening strong at 79.222S from its previous close of 79.S2. The Brent crude oil prices in the international market have risen sharply and at the close of Endian market hours, it was $98.S9 a barrel up l.O2 percent.
The loYer US CPE print did trim the odds of a 7S bps rate hike in September with DXT cooling off below Los levels. But the lower inflation figure is pure because of the cooling off in oil & gas prices last month. Food and shelter costs still continue to be sticky.
Thus contrary to data Fed members continue to have their haykish stance in place and still believe inflation is still unacceptably high said Kunal Sodhani Vice President Clobal Trading Centre Shinhan Bank.
Meanwhile, Sense ended up SlS.Sl points or O.88 percent at S9 SS2.6O While Nifty ended l24.2S points or O.7l percent higher at l7 6S9.OO on Thursday.
