Indian stock market boom shows effect on rupee, closed up by 15 paise against dollar
Dollar vs Rupee: There has been a tremendous rise in the rupee against the dollar. The rupee had gained 15 paise to close at 81.95. The dollar index, which shows the strength of the US currency, remains around 103. The reason for the rise in the rupee is attributed to the Indian stock market being at its highest level and buying by foreign investors.
The rupee gained against the dollar in Monday's trading session. The rupee gained 15 paise to close at 81.95. The reason for the rise in the rupee is due to continuous buying in the Indian market by FPIs and investors being bullish on the stock market.
According to the Interbank Foreign Exchange, the domestic currency opened higher at 82.01 and closed at 81.95 against the dollar. There has been an increase of 15 paise in the rupee as compared to the previous trading session. This is the main reason for the spectacular performance of the Indian stock market.
The rupee touched a high of 81.76 and a low of 82.01 against the dollar during the day. The rupee had closed at 82.10 against the dollar on Friday.
The Dollar Index, which reflects the strength of the US currency, is trading in a narrow range today. It was up 0.21 percent at 103.13. Let us tell you, the dollar index shows the strength and weakness of the dollar against the six currencies of the world.
In the Indian stock market, the 30-share BSE Sensex climbed 486.49 points to 65,205.05 points and the Nifty closed at its highest level of 19,322.55 points.
FIIs bought Rs 6,397 crore in Friday's trading session. 47,148 crore has been invested by FIIs in the month of June, which is the largest investment by foreign investors in the last 10 months. Crude oil benchmark Brent crude rose 0.97 percent to trade at $76.14 per barrel. FIIs bought Rs 6,397 crore on Friday.
