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Rupee ends higher against dollar on Monday
Jan-30-2023

Indian rupee ended higher against dollar on Monday amid decline in crude oil prices. Sentiments were upbeat with latest data showing that the Reserve Bank of India’s (RBI’s) foreign exchange reserves climbed $1.7 billion to $573.73 billion in the week ended January 20. The rise was on account of an increase in the RBI’s foreign currency assets as well as its gold holdings. On the global front, dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday.

Finally, the rupee ended at 81.50 (Provisional), stronger by 9 paise from its previous close of 81.59 on Friday. The currency touched a high and low of 81.72 and 81.49 respectively.

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