Despite the strengthening of the dollar, the rupee strengthened early on Tuesday but has remained below its two-decade peak.
The rupee on Thursday gained 23 paise to close at 79.72 (provisional) against the US dollar.
Indian Rupee : Despite the dollar strengthening, the Indian rupee strengthened early on Tuesday, but has remained below its two-decade peak before that. Investors were eyeing the Federal Reserve meeting later this week to understand the path of rate hikes. PTI reported that the rupee rose by 13 paise to 79.68 against the US dollar in early trade.
Bloomberg quoted the domestic currency at 79.6800 after opening at 79.6862 compared to Monday’s close of 79.7725. Even as investors continued their aggressive interest rate hike campaign for the Federal Reserve to rule in runaway inflation, the dollar against major rivals pushed to hold steady on Tuesday, but two decades later. below the high level.
The dollar index, which compares the greenback’s value against six other major currencies, was flat at 109.53, down from a high of 110.79 it hit earlier this month, which it had not reached since June 2002.
Source: www.tv9hindi.com”