๐ฅ๐๐ฝ๐ฒ๐ฒ ๐๐๐บ๐ฝ๐ ๐ง๐ผ ๐ต๐ฑ.๐ฎ๐ฌ ๐๐ด๐ฎ๐ถ๐ป๐๐ ๐จ๐ฆ ๐๐ผ๐น๐น๐ฎ๐ฟ ๐ข๐ป ๐ ๐ถ๐ฑ๐ฑ๐น๐ฒ ๐๐ฎ๐๐ ๐ฃ๐ฒ๐ฎ๐ฐ๐ฒ ๐๐ผ๐ฝ๐ฒ๐
The Indian rupee gained 65 paise to reach 95.20 against the US dollar in early Friday trade. The currency opened at 95.40 in the interbank foreign exchange market and later traded at 95.20.
On Thursday, the rupee fell 60 paise to close at 95.85.
Forex traders point to several factors for the Friday rise:
- Global crude oil prices fell sharply
- US President Donald Trump signaled a deal with Iran is close
- The US dollar index slipped 0.11% to 99.75
- Indian stock markets traded higher
Aamir Makda is a Commodity and Currency Analyst at Choice Broking. He expects the rupee to stay between 95 and 95.30 through the day. He noted the Reserve Bank of India took strong steps to bring in dollar flows and support the local currency.
Brent crude futures declined 1.07% to $89.41 per barrel.
Domestic equities rose in early trade. The Sensex climbed 921.30 points to 74,753.85. The Nifty advanced 254.20 points to 23,417.25.
Foreign institutional investors sold Indian equities worth Rs 1,987.09 crore on Thursday.