Rupee advances against US dollar in morning trade
Key Highlights
The Indian rupee traded at 93.84 against the US dollar on Monday morning. The currency rose 14 paise from its previous close of 93.98.
The Indian Rupee US dollar exchange rate moved upward during Monday morning trading. The partially convertible currency reached 93.84, marking a gain of 14 paise compared to the 93.98 closing value recorded on Friday.
data indicates that foreign institutional investors acquired equities totaling ₹13,749.82 crore on Friday. During the session, the currency fluctuated between a peak of 93.88 and a floor of 93.69. Additionally, the Reserve Bank of India stated that the nation’s foreign exchange reserves decreased by $2.691 billion, reaching $717.056 billion for the week concluding October 30.
Support for the currency arrived through reduced crude oil costs. This shift followed indications that further American military action against Iran is unlikely if ongoing talks proceed toward an agreement. Sentiment also received backing from a softer dollar and consistent inflows of foreign capital into the domestic market. The currency market participants observed these developments throughout the early trading hours on Monday as the rupee maintained its position against the dollar.
Based on company and agency reports. For information only; not investment advice.