Govt efforts will help rupee appreciate against dollar: Piyush Goyal
The minister said that a stable economy will propel India to become one of the top 3 economies in the world.
The minister said that a stable economy will propel India to become one of the top 3 economies in the world.
The US Dollar Index (DXY) has slipped below $100 for the first time after April 2022. When the Dollar Index falls, the Indian rupee appreciates and the dollar weakens, which is leading to increase in fund flows from FIIs and FPIs, SBI Securities said in a report.
The Indian rupee came down against the US dollar on Monday, crossing the Rs 81 mark vis-a-vis a dollar.
The rupee on Monday ended 31 paise lower at 82.78 at the interbank foreign exchange market. The Indian currency opened 10 paise higher at 82.57 on the support of easing crude oil prices and touched a high of 83.01 during intraday trade.
India's foreign exchange reserves during the week that ended on October 14 fell to an over two-year low of USD 528.367 billion, a drop of USD 4.5 billion from the previous week.
The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 .
The US dollar was steady against its peers in early Asian trade, having failed to extend overnight gains amid uncertainty over Chinese investments in the US
The rupee firmed up by 19 paise to 67.79 against the dollar today after increased selling of the US currency by exporters and banks.
The rupee recovered by 7 paise to 64.90 against the US dollar in opening trade on Wednesday at the forex…
Amid mixed global cues, the rupee opened 2 paise higher at 64.87 against the US dollar on Wednesday at the…
