The rupee on Thursday strengthened by 67 paise to reach the level of 82.14 against the dollar. The rupee opened at 82.15 against the dollar at the Interbank Foreign Exchange. The rupee showed a strength of 67 paise against the previous close. Earlier on Tuesday, the rupee had gained seven paise to close at 82.81 points. On Wednesday, the forex market was closed on the occasion of Diwali Balipratipada.
According to Anil Kumar Bhansali of Finlex Treasury Advisors, the rupee strengthened due to the weakening of the dollar and crossing the 110 level. The reason for this fall in the dollar is the slight increase in interest rates in the US in November despite high inflation rates. However, the dollar index closed at 109.76 with a gain of 0.06 percent in a basket of six currencies.
However, a rise in oil prices from $90 a barrel to $94 a barrel may hold back the rupee, as oil is a major imported commodity for the country. Bhansali said oil companies and importers would use this opportunity to buy dollars at cheaper rates. Global oil benchmark Brent crude futures rose 0.26 percent to $95.94 per barrel.
Also Read: China Economy: A market condition in China is bad, foreign investors are preparing to exit
Heatwave Alert: Diseases started increasing with increase in temperature, Center alerted by writing a letter to the states
With the change in weather, the temperature has also started increasing gradually. However, this time in February itself, the temperature has started breaking many records. Even though the temperature
RR vs GT: Will the batsmen create havoc in Jaipur or will the bowlers rule? Know the nature of the Jaipur pitch
Sanju Samson-led Rajasthan Royals have had a great performance so far in IPL 2024. The Rajasthan team has tasted victory in all four matches in the current season and is currently sitting in the first
RBI Monetary Policy: RBI may increase interest rates marginally, which may be announced on Wednesday
Regarding the next monetary policy of the Reserve Bank of India, experts have speculated that the central bank may increase the interest rates marginally. According to experts, amid signs of
Yograj Singh Statements Against MS Dhoni: A Deep Dive into the Controversy
Introduction
Visa Fraud: Visa files of 64 people disappeared from the French Embassy, a case of fraud of 32 lakhs
There has been a new revelation in the visa fraud case in the French Embassy. Officials have told that the visa files of 64 high-risk persons related to the case have disappeared from the embassy
Industry: Worst performance of Indian industry, industrial production down to 26-month low
The country's industrial production declined by 4 percent in October due to the weak performance of the mining and energy sectors along with a contraction in manufacturing output. This has been the
AirIndia Express: Passengers angry due to cancellation of flights in Kerala, some were afraid of losing their jobs and some had to go to the hospital.
Passengers are angry over the last-minute cancellation of Air India Express flights. On Wednesday, angry passengers protested at all the airports in Kerala. Most of the passengers were traveling to
Pushpa 2: A huge mistake happened during the screening of 'Pushpa 2', the audience got angry.
A strange incident was seen regarding 'Pushpa 2' in Kochi. Only the post-interval part of Allu Arjun's film was shown in a theater here. When cinema lovers reached CinemaPlus Centre Square Mall for
Gyanvapi Masjid Case: Hearing on surveillance petition in the archaeological survey including handing over Gyanvapi to Hindus today
Two important cases are going to be heard in Adalam today in the Gyanvapi Masjid episode. The first case is on behalf of Vishva Vedic Sanatan Sangh on handing over the worship and premises of Adi
Kangana Ranaut again taunted Karan Johar said- Your Hindi has improved now, see what happens next
The war between Kangana Ranaut and Karan Johar has intensified. After the reply from the filmmaker, now Kangana hit back again. The Queen of Bollywood taunted that your Hindi has improved because of
