Under Pressure
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
The rupee strengthened by 12 paise to 67.21 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Forex dealers attributed the rise in the rupee to weakness of the dollar against other currencies overseas.
Advertisement
However, industrial output growing by 4.4 per cent in March, the slowest in five months, capped the rupee gains, they added.
Advertisement
On Friday, the rupee had settled almost flat at 67.33 against the US currency in highly volatile trade amid weak dollar cues.
Meanwhile, the benchmark BSE Sensex rose 37.19 points, or 0.10 per cent, at 35,572.98 in early trade on Monday.
Advertisement
