Indian Rupee Appreciates Slightly Against US Dollar on Inflows and Dollar Sales by State-run Banks
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#19e6c8d0 ver:0.68

The Indian rupee gained 0.1% to close at 83.3625 against the US dollar on Monday, supported by inflows and dollar sales by state-run banks. The currency had dropped to a record low of 83.5750 on Friday but has since recovered modestly due to the central bank's intervention and easing fears of escalation in the Middle East conflict. Both foreign and state-run banks were seen offering dollars on Monday, which helped lift the rupee. The dollar index remained largely unchanged at 106.1, and most Asian currencies were rangebound as risk aversion eased. Brent crude oil futures declined by 0.7% to $86.70 per barrel. Indian equities rose, with the BSE Sensex and the Nifty 50 up by about 0.8% and 0.9% respectively. However, the rupee's gains are expected to be temporary, as a hawkish repricing of U...

#newstr #IndianRupee #UsDollar #StaterunBanks #Inflows #DollarSales 

 https://here.news/story/19e6c8d0?ver=0.68