"rupee"

Indian government has been promoting Rupee trade with several countries to save forex, aiming at reducing dependence on the US Dollar and strengthening regional currency and trade

On Monday, the Indian rupee recorded a gain of 15 paise, closing at 81.83 (provisional) against the US dollar. This upturn was prompted by a significant surge in India's forex reserves, positively impacting investor sentiments.

Forex traders said investors are watching on the sidelines and awaiting cues from ensuing FOMC meeting and US FED decision this week.

At the interbank foreign exchange, the domestic unit opened at 82.03, then touched 82.05, registering a decline of 12 paise over its last close.

The domestic unit opened at 82.05, then touched a high of 82.02 against the American currency, registering a rise of 6 paise over its last close.

Besides, steady foreign fund inflows into domestic capital markets also supported the local unit, forex traders said

A surge in crude oil prices capped sharp gains for the local unit, forex traders said.

Strengthening crude prices in international markets capped the gains in the domestic unit, forex traders said.

However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.36, then fell to 82.45, registering a decline of 20 paise over its last close.

Sustained foreign fund inflows supported the local unit and contained the fall.

At the interbank foreign exchange, the domestic unit opened at 82.01 against the dollar and then rose to 81.77, registering a gain of 33 paise over its previous close.

An upward movement in crude price also weighed on the local unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.59, registering a decline of 7 paise over its last close.

RBI is largely expected to leave the repo rate unchanged at 6.5 per cent.

Centre's fiscal deficit narrowed to 6.4 per cent of the GDP in 2022-23 from 6.71 per cent in FY22.

The downward movement in crude price and inflows of foreign funds capped the fall of rupee, as per Forex traders.

Forex traders said the rupee is trading in a narrow range amid strengthening of the US dollar.

Forex traders said a positive trend in domestic equities supported the local unit and restricted the depreciating bias.

At the interbank foreign exchange, the domestic unit opened at 82.29 against the dollar, then fell to 82.35, registering a decline of 10 paise over its last close.