HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee closes stronger against US dollar on Friday
Sep-29-2023

Indian rupee closed stronger against the US dollar on Friday supported by a sharp correction in the greenback against major rivals overseas and steady crude oil prices. A positive trend in equity markets also aided the domestic unit. Some support came in with the figures released by the Reserve Bank of India showing that India’s foreign exchange reserves in nominal terms (which includes valuation effects) rose by $16.6 billion during April-June 2023, mainly driven by strong Foreign Institutional Investment (FII) flows. On the global front, the Pound Sterling (GBP) discovers stellar buying interest as investors digest upside risks to a recession in the United Kingdom.

Finally, the rupee ended at 83.04 (Provisional), stronger by 15 paise from its previous close of 83.19 on Thursday. The currency touched a high and low of 83.13 and 83.03 respectively.


  RELATED NEWS >>