2 weeks ago
Rupee Gains 3 Paise to 95.42; Seen in 95.10-95.80 Range
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.
The rupee appreciated 3 paise to close at 95.42 against the US dollar on Friday.
The currency opened at 95.39 and traded in a tight range of 95.38 to 95.44 before closing.
The rupee stayed under pressure due to foreign fund outflows and rising crude oil prices amid geopolitical uncertainties.
On Thursday, the rupee had closed 12 paise lower at 95.45 against the US dollar.
Analysts expect the rupee to trade in the 95.10-95.80 range, with a weak but largely range-bound bias this week.
- Who
- The Indian rupee, tracked at Mumbai's interbank foreign exchange market; analyst Jateen Trivedi of LKP Securities commented on the movement.
- What
- The rupee appreciated 3 paise to close at 95.42 against the US dollar after trading within a tight range.
- Where
- At the interbank foreign exchange market, as reported from Mumbai.
- When
- Friday, following a 12-paise decline the previous day (Thursday).
- Why
- Because the US dollar weakened against major rivals overseas, although foreign fund outflows, rising crude oil prices, and geopolitical uncertainties kept the rupee under pressure.
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







