Mumbai: The rupee strengthened for the ninth consecutive session on Monday. As per forex traders, revival of foreign inflows and lower crude oil prices supported the Indian currency.
At the interbank foreign exchange, the domestic currency opened 4 paise stronger at 85.94 against the US dollar. The local currency settled at 85.98 on Friday. . The Rupee has appreciated by 1.83 per cent in March so far, tracking the fall in the dollar index.
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Foreign institutional investors remained net buyers of Rs 7,470 crore from Indian equities on Friday. Global funds have pulled out Rs 1.44 trillion from domestic stocks so far this year. The dollar index — a measure of the value of the US dollar relative to a basket of foreign currencies — was up 0.02 per cent at 104.109. The dollar index was down by 3.26 per cent in March, the highest since November 2022.
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