Rupee - Business Outrank

In early Friday trade the rupee climbed 17 paise to 86.19 against the US dollar as positive domestic equities and fresh foreign fund inflows boosted the local currency. The local currency opened at 86.26 then moved higher to 86.19 at the interbank foreign exchange market. Forex analysts pointed out that the rupee has been on the upward trend as foreign portfolio investors (FPIs) have become buyers of Indian assets for the second time this week, putting their money in equities and debt. On Thursday, the rupee had gained one paisa to settle at 86.36 against the greenback. According to CR Forex Advisors MD Amit Pabari, the Indian rupee has been influenced by the policies of the US Federal Reserve and has also been benefiting from strong foreign institutional investor (FII) flows. Foreign institutional investors (FII) had on Thursday bought Indian equities worth ₹3,239.14 crore after having been on the selling side for a number of sessions. Moreover, foreign investors have pumped in more than ₹5,500 crore in the debt markets as they found India’s real yield of 3.028% attractive. However, the US dollar index which measures the strength of the greenback against six major currencies was at 103.98, up by 0.13 per cent. Brent crude, the international oil benchmark, traded 0.44 per cent higher at $72.32 per barrel in futures trade. The BSE Sensex rose 158.79 points (0.21%) to 76,506.85, as the domestic equity market opened on Friday. The Nifty also opened on a positive note and touched 23,265.05, gaining 74.40 points (0.32%). Analysts are of the opinion that the USD-INR range may continue between 86.00 and 86.80 in the near future, with a possible reversal towards 86.50-86.60 due to the prevailing global economic conditions.

What's Hot

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Rupee

Rupee Rises 17 Paise to 86.19 Against US Dollar on Strong FII Inflows

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Fixed Deposits Offering Up to 9% Returns Amid Changing Rate Trends

Our Picks

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Most Popular

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Rupee