Rupee rises 18 paise to 82.77 against U.S. dollar in early trade
The Hindu
The rupee strengthens against the US dollar as domestic equities reach record highs, while US markets are closed.
The rupee appreciated 18 paise to 82.77 against the US dollar in early trade on Monday, supported by bullish domestic equities wherein domestic indices touched record highs.
At the interbank foreign exchange, the rupee opened at 82.82 and touched 82.77 against the dollar in initial trade, registering a rise of 18 paise from its previous close.
On Friday, the rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the U.S. dollar.
The inflows are expected to continue and will the keep the pair of USD-INR on the downside as a major support at 82.80 comes up.
"Keep a close watch on what the Reserve Bank of India does during the day," Anil Kumar Bhansali, the Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said.
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