Due to continuous purchase of FIIs, boom in the Indian stock market and fall in crude oil prices, the Indian rupee today closed at 85.03 against the US dollar at 85.03.
According to Forex traders, the rupee also strengthened due to the strengthening of the market perception after a significant increase in foreign exchange reserves. The rupee opened at 85.29 today in the Interbank Forex Exchange Market, which was 12 paise above Friday’s 85.41, and it created the highest level of 84.96 and a minimum level of 85.42 in the day. At the end of the business, the rupee rose by 38 paise to close at 85.03. Meanwhile, the dollar index, which showed a dollar performance against six major currencies, was trading 0.13 percent to 99.60 today, while global crude oil benchmark brant crude fell 0.46 percent to $ 66.56 per barrel. Significantly, the Indian stock market had invested Rs 1,000 crore by FII in eight trading sessions before Monday. A net acquisition of Rs 32,462 crore has been done.
