USD/INR ended at 68.6600 aginst its opening at 68.7000. Dollar ended at one-week low Thursday on selling by foreign banks amid HDFC AMC's Initial Public Offering (IPO) related inflows. Also, likely overseas funds inflow into local stocks steered the pair down further.
So far, HDFC AMC Ltd got bids worth Rs 38.38 million on the upper prices band on the first day of its Initial Public Offering, wherein it is selling 25.47 million equity shares at Rs 1,095-1,100.
HDFC AMC is a joint venture between HDFC and Standard Life. Through this IPO, Housing Development Finance Corporation and Standard Life Investments aim to sell their stake.
The stayed subdued against its major peers on lack of significant US economic data while investors await the outcome of Federal Open Market Committee (FOMC) two-day monetary policy meeting due next week.
Meanwhile, last night US President Donald Trump and the European Commission President Jean-Claude Juncker struck an unexpected deal and averted an all-out trade war at the White House.
Sensex provisionally ends 192 points higher with 18 components in the green.