Mumbai: The Indian rupee appreciated against the U.S. dollar in morning trade on Monday (January 20, 2025). As per forex traders, positive trend in domestic equities and Asian currencies supported the upward rally of the Indian currency.
At the interbank foreign exchange, the Indian rupee opened at 86.48 and touched 86.46 against the US dollar, registering a gain of 14 paise over its previous close. On Friday, the rupee had settled at 86.60 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10. Foreign Institutional Investors (FIIs) remained net sellers in the Indian capital markets on Friday, as they offloaded shares worth Rs 3,318.06 crore.
India’s forex reserves dropped by $8.714 billion to $625.871 billion in the week ended January 10. Earlier, the overall kitty dropped by $5.693 billion to $634.585 billion in the week ended January 3.
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