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Forex Market: Indian rupee ends firm against US dollar

Mumbai: The Indian rupee ended unchanged against the US dollar on Monday. It  edged higher against US dollar in early trade. Weakening of the US currency and drop in crude oil prices supported the Indian currency.

At the Interbank foreign exchange, the Indian rupee opened 4 paise higher at 83.30 a dollar. It is trading 2 paise higher at 83.32 against the US dollar. On Friday, the Indian  rupee ended at a record low at 83.34 a dollar. The domestic currency closed little changed at Rs 83.30 against US dollar.  The local currency had hit its lifetime low of 83.42 to the dollar during the session.

Also Read: Currency with public declines to Rs Rs 32.01 lakh crore in April-October 

The dollar index, which gauges the US currency’s strength against a basket of six currencies, was trading lower by 0.04% at 105.82. Meanwhile, India’s forex reserves jumped by $4.672 billion to $590.783 for the week ended November 3. Foreign institutional investors were net sellers in the Indian capital market on Friday as they offloaded shares worth Rs 190.06 crore.

 

 

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