Mumbai: The Indian rupee recovered from its all-time low and appreciated against the US dollar in morning trade on Tuesday. The Indian currency is supported by fresh foreign fund inflows and a positive trend in domestic equities. The government on Monday appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India.
At the interbank foreign exchange, the Indian rupee opened at 84.80 and moved in a tight range and touched 84.78 against the US dollar, registering a gain of 8 paise over its previous close. It was later trading at 84.82 against the dollar. On Monday, the rupee saw its steepest fall in over a month and plunged 20 paise to settle at lowest-ever level of 84.86 against the US dollar.
Also Read: South Central Railway to operate special trains to Kerala: Full list
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading at 106.15, unchanged from its previous close. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Monday, as they purchased shares worth Rs 724.27 crore.
Post Your Comments