2 weeks ago

Rupee Gains 3 Paise to 95.42; Seen in 95.10-95.80 Range

Rupee Gains 3 Paise to 95.42; Seen in 95.10-95.80 Range
Rupee likely to trade in 95.10-95.80 range · thehansindia.com

Money from different countries has different values, just like different-sized toys.

The rupee is India's money, and the US dollar is America's money.

When people trade between countries, they need to know how many rupees they can get for one dollar.

This week, the rupee was worth a little less than before, but on Friday it got slightly stronger.

It went up by three small units called paise and closed at 95.42 rupees for one dollar.

The dollar was weaker against other big currencies, which helped the rupee a little.

But the rupee still felt pressure because foreign investors were pulling money out and oil prices were going up.

World troubles and worries also made things uncertain.

A person who watches this market said the rupee had a weak week but did not move around too much.

Experts think the rupee will probably stay between 95.10 and 95.80 rupees per dollar next.

Key facts

Currency pair
Indian rupee vs US dollar
Closing rate
95.42 per US dollar
Daily change
+3 paise (appreciated)
Opening rate
95.39
Day's range
95.38 to 95.44
Previous close
95.45 (Thursday, down 12 paise)
Expected trading range
95.10 to 95.80
Pressure factors
Foreign fund outflows, rising crude oil prices, geopolitical uncertainties

Quotes

Jateen Trivedi

Vice President Research Analyst – Commodity and Currency at LKP Securities

“the rupee traded with a weak bias this week”
thehansindia.com

Sources

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