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Indian Currency Rises: The rupee strengthened in the fourth consecutive trading session amidst the flow of foreign capital in the domestic stock market and the weak trend of American currency. On Thursday, it rose by 10 paise to 85.54 per dollar in early trade. However, foreign currency traders say that local currency was limited due to sluggish perception in the stock market and slight improvement in crude oil prices.
Here, the rupee opened at 85.48 per dollar in the Interbank Forex Exchange Market and fell at 85.54 against the dollar in early trade, showing a 10 paise lead in the last closed price. The rupee closed at 85.64 on Wednesday against the US dollar.
Meanwhile, the dollar index, which showed the US dollar position against six major currencies, rose by 0.14 percent to 99.28. International standard Brent crude rose 0.96 percent to $ 66.48 per barrel.
Rupee getting stronger
The BSE Sensex fell by 333.47 points to 76,710.82 points in the domestic stock market, while the Nifty slipped 127.55 points to 23,309.65 points. According to the stock market data, foreign institutional investors (FIIs) were living on Wednesday and purely bought shares worth Rs 3,936.42 crore.
Earlier, the rupee rose in the third consecutive session in the Interbank Forex Exchange Market and on Wednesday it strengthened 16 paise to close at 85.64 per dollar. The rupee rose on Wednesday amidst the latest investment of foreign institutional investors and the dollar being weak. According to foreign currency traders, the domestic stock market has shown this increase after the US put a 90 -day brake on tariffs. He further said that due to the decrease in crude oil prices in the international market, it has also helped in the strengthening of the rupee.
