The Indian rupee strengthens against the US dollar.
The Indian rupee rose 24 paise to 93.74 against the US dollar in early trade on Monday. This follows a week where the currency gained approximately 1.2 percent. During the week ending October 30, India's forex reserves decreased by $2.691 billion to $717.056 billion.
- The Indian rupee strengthened to 93.90 against the US dollar in afternoon trade on Friday.
- Foreign investors bought nearly $3 billion worth of Indian equities this week.
- Dilip Parmar, a currency research analyst at HDFC Securities, stated the rupee appreciation is backed by softer crude oil, easing yields, and renewed foreign inflows post the US midterm elections outcome.
- The currency rose 24 paise to 93.74 against the US dollar in early trade.
- Amit Pabari said improving diplomatic expectations were already having an impact on energy prices.
- India's forex reserves dropped $2.691 billion to $717.056 billion during the week ended October 30.
Outlets: Business Recorder, Business Standard, Daily Mirror (Sri Lanka), Times of India (Top)
Written by AI from the outlets' reporting and checked automatically; it can contain mistakes. How Daily Brief works · Privacy