Rupee Closes At Over Two-Month High Against US Dollar
Rupee extended gains for nine days in a row and recorded the best winning streak since Jan. 15, 2024.
The rupee closed at over two-month high against the greenback amid the Reserve Bank of India's $10 billion buy-sell swap. The domestic unit closed 33 paise higher at 85.64 against US Dollar, the highest level since Dec. 31, 2024.
The Indian unit extended gains for nine days in a row and recorded the best winning streak since Jan. 15, 2024.
The rupee opened 3 paise higher against the US currency at 85.94. Intraday, the domestic currency jumped 48 paise to the day's high of 85.49, touching the highest level since Dec. 26.
The dollar index was trading slightly lower in the European session. It was trading 0.14% down at 103.94 as of 3:28 p.m., according to data on Bloomberg.
"This week, focus will be on a slew of addresses to be made by the Federal Reserve officials for more cues on US economy, especially after the Central Bank signalled heightened uncertainty over Trump's policies. The PMI data from various countries will offer more cues on how the US, European Union, UK, India and Chinese economy are doing," said Anil Kumar Bhansali, head, treasury and executive director Finrex Treasury Advisors LLP
