The Indian rupee strengthened on Monday to 85.90 against the US dollar. It has been moving towards the highest high level of rupee since 9 January 2025. In the Interbank Forex Exchange Market, the rupee opened at 85.93 against the dollar, then reached 85.86 with some gains, which is 12 paise more than the previous bandh. On Friday, the rupee rose by 38 paise to close at 85.98 against the US dollar. Analysts say the rupee rose, which has made it the best performing Asian currency this month. Foreign investment and improvement in status have promoted the rupee, which is ready for its best monthly performance in almost four years.
Rupee sensitive to external shocks
According to PTI news, Amit Pabari, MD, CR Forex Advisors, said that despite the recent lead, the rupee remains sensitive to external shocks, especially crude oil prices. Brent crude moved to $ 72 per barrel due to increased geopolitical tension in the Middle East.
Meanwhile, foreign institutional investors (FIIs) on Friday 7,470 on a pure basis. Bought shares worth Rs 36 crore. Inflow was mainly inspired by FTSE march review and strong fund raising activities. Government enterprises raised Rs 14,000 crore, while Indian states raised Rs 40,100 crore through loan sales.
Rupee strengthened due to these reasons
According to Bloomberg’s data, the decline in the dollar index has increased by 1.83 percent in March, according to the improving foreign investment and the fall in the dollar index. According to a business standard news, experts say that selling opportunities for any fast traders can create opportunities, while a favorable change in market conditions can lead to a level of 85.50.
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