Rupee rises for fourth straight day, closes at 95.15
The Indian rupee closed at 95.15 against the US dollar, marking the fourth consecutive day of gains. It reached an intra-day peak of 94.77, which is a one-month high. This appreciation was aided by central bank measures and the unwinding of long dollar positions. Despite the gains, strong dollar demand from importers limited its daily increase....
Key Takeaways
- The Indian rupee closed at 95.15 against the US dollar, marking the fourth consecutive day of gains.
- It reached an intra-day peak of 94.77, which is a one-month high.
- This appreciation was aided by central bank measures and the unwinding of long dollar positions.
The Indian rupee closed at 95.15 against the US dollar, marking the fourth consecutive day of gains. It reached an intra-day peak of 94.77, which is a one-month high. This appreciation was aided by central bank measures and the unwinding of long dollar positions. Despite the gains, strong dollar demand from importers limited its daily increase. Overall, the rupee's rise presents opportunities for companies engaged in purchasing.
Original Publisher Attribution
This summary was curated from Economic Times.