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The Indian rupee closed at 89.79 per U.S. dollar, up 0.2% from the previous close. Gains were supported by foreign inflows, stable equities, and easing crude prices. Analysts expect the rupee to remain range-bound, with global cues and domestic fundamentals guiding short-term movement in currency markets.
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The Indian rupee (INR=IN) provisionally closed at 89.79 per U.S. dollar on Tuesday, marking a 0.2% appreciation from its previous close. The modest gain reflects resilience in the currency amid mixed global cues and year-end trading activity.
Key Highlights
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Closing Value: The rupee ended at 89.79/USD, strengthening by 0.2% compared to Monday’s close.
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Market Drivers: Analysts attribute the uptick to steady foreign inflows, supportive equity market sentiment, and a slight easing in crude oil prices.
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Global Context: The U.S. dollar index remained range-bound, with traders awaiting fresh economic data and Federal Reserve signals, giving emerging market currencies some breathing space.
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Investor Outlook: Market experts suggest the rupee may continue to trade in a narrow band, with near-term movement influenced by global risk appetite and domestic macroeconomic indicators.
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Sector Impact: Importers benefited from the stronger rupee, while exporters may face marginal pressure on competitiveness.
The rupee’s firm close underscores India’s relative stability in currency markets, even as global uncertainties persist.
Sources: Economic Times, Moneycontrol, Business Standard
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