1 week ago
Rupee Settles 3 Paise Higher as Tensions Offset Gains
The rupee is India’s money, and the US dollar is another currency.
On Friday, the rupee became slightly stronger against the dollar.
It ended the day at 95.71 rupees for one dollar.
This was 3 paise better than its previous closing rate.
The rupee started trading at 95.69.
It briefly became stronger, reaching 95.65.
A weaker dollar and positive Indian markets helped it.
Geopolitical tensions made traders cautious and reduced the rupee’s early gains.
On Thursday, the rupee had closed at 95.74 per dollar.
The rupee settled 3 paise higher at 95.71 against the US dollar on Friday.
It opened at 95.69 at the interbank foreign exchange market.
The rupee reached an intraday high of 95.65 and a low of 95.75.
A weak US dollar and positive domestic markets initially supported the rupee.
Continued geopolitical tensions pared the rupee’s gains after it strengthened earlier in the session.
- Who
- The Indian rupee and the US dollar, with forex traders monitoring the exchange rate.
- What
- The rupee settled 3 paise higher at 95.71 against the US dollar.
- Where
- The interbank foreign exchange market; the report is datelined Mumbai.
- When
- Friday; the previous trading session was Thursday.
- Why
- A weak US dollar and positive domestic markets supported the rupee, while continued geopolitical tensions limited its gains.
Key facts
- Closing rate
- 95.71 rupees per US dollar
- Daily change
- 3 paise higher than the previous close
- Previous close
- 95.74 per US dollar on Thursday
- Opening rate
- 95.69
- Intraday range
- High of 95.65 and low of 95.75
- Supporting factors
- A weak US dollar and a positive tone in domestic markets
- Limiting factor
- Continued geopolitical tensions
Sources
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