Continuing on its gaining streak for the fifth straight day, the Indian rupee strengthened by another 9 paise to Rs 44.97 against the US dollar in early trade on the Interbank foreign exchange today.
The rupee appreciation was largely in line with stronger Asian currencies overseas and a positive opening in the stock market. The rupee had appreciated by 2 paise to close at Rs 45.06/07 against the US dollar in the previous session on sustained dollar-selling by some banks and exporters. Forex dealers said dollar weakness against other Asian currencies and the higher opening in the stock market mainly kept the rupee sentiment firm.
The rupee appreciation was largely in line with stronger Asian currencies overseas and a positive opening in the stock market. The rupee had appreciated by 2 paise to close at Rs 45.06/07 against the US dollar in the previous session on sustained dollar-selling by some banks and exporters. Forex dealers said dollar weakness against other Asian currencies and the higher opening in the stock market mainly kept the rupee sentiment firm.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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