Rupee rises 31 paise to 95.12 against US dollar in early trade
Forex traders say fall in global oil prices, FII inflows to India, a rise in country’s forex reserves and RBI support strengthened rupee
The Indian rupee experienced a significant surge of 31 paise, reaching 95.12 against the US dollar in initial trading on Monday, as indicated by forex traders. This gain was attributed to a substantial drop in global crude oil prices, a weaker US dollar following US President Donald Trump's decision to forego strikes against Iran, and the sustained inflow of Foreign Institutional Investors (FIIs) into the Indian market.
The RBI's continued support in the foreign exchange market also contributed to the rupee's strength. The rupee opened at 95.15 against the greenback and stayed in positive territory for the fifth consecutive day, marking a 7-paise increase from its previous close.
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Also reported by 1 other outlet
- Rupee rises 31 paise on weaker dollar, lower oil prices and continued FII inflows timesofindia.indiatimes.com
