Mumbai: The Indian rupee is on track for its best weekly gain since January 2023, rising 1% against the US dollar over the last five sessions. Strong foreign inflows and positive domestic equities have fueled the rally.
On Friday (March 21), the rupee appreciated 17 paise to 86.19 against the US dollar. It opened at 86.26 at the interbank forex market before strengthening further.
Also Read: Commodity Market: Gold prices edge lower marginally
Foreign investors have been heavy buyers in Indian markets. FIIs purchased Rs 3,239 crore in equities on Thursday and injected Rs 5,500 crore into debt, supported by India’s high real yield of 3.028%.Meanwhile, the US dollar index edged up 0.13% to 103.98.
Post Your Comments