Rupee Shown Big Strength Against US Dollar, Gained 39 Paisa In Opening Trade

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Rupee Shown Big Strength Against US Dollar, Gained 39 Paisa In Opening Trade

Rupee Vs Dollar: The rupee is witnessing tremendous growth today and it is trading at a strong bounce when it opened today after a continuous gap of 4 days. Today the Indian rupee has opened with a strength of 39 paise against the US dollar. Rupee had closed at 79.66 on Friday and today it has started at 79.27 which is showing a jump of 39 paise.

Why did the rupee rise
The rupee on Wednesday rose 39 paise to 79.27 against the US dollar in early trade on increased buying by foreign funds. Forex traders said a positive opening in the domestic equity markets amid softening inflationary pressures also supported investor sentiments.

What’s up with the Dollar Index
The forex market was closed on Monday for Independence Day and Tuesday on the occasion of Parsi New Year. Meanwhile, the dollar index, which reflects the position of the US dollar against the six major currencies, slipped 0.06 per cent to 106.44.

Brent crude and FII buying data
Global oil benchmark Brent crude futures were up 0.34 per cent at $92.65 per barrel. According to provisional data of the stock market, foreign institutional investors had bought shares worth a net Rs 1376.84 crore on Tuesday.

how was the market open today
At the beginning of today’s trading, the BSE 30-share index Sensex opened at 59,938.05 with a gain of 95.84 points or 0.16 percent. NSE’s Nifty has managed to open 42 points higher at 17,868.

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