The Indian rupee on Tuesday hit a four-month high against the US dollar ahead of the key events in domestic as well as international markets due later this week.
Gains in the rupee was also due to continued buying from foreign institutional investors (FIIs) in both local equity and bond markets. So far this year, FIIs have bought $1.76 billion and $430.60 million from local equity and debt markets, respectively.
The local currency opened at 66.67 a dollar and touched a high of 66.61—a level last seen on 10 November. At 9.54am, the home currency was trading at 66.61—up 0.14% from its Monday’s close of 66.72. Year to date, the rupee has gained 1.9%.
Asian currencies were trading stronger. South Korean won was up 0.53%, Taiwan dollar 0.18%, Singapore dollar 0.05%, Indonesian rupiah 0.04%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.66—up 0.01% from its Monday’s close of 101.64.
Gains in the rupee was also due to continued buying from foreign institutional investors (FIIs) in both local equity and bond markets. So far this year, FIIs have bought $1.76 billion and $430.60 million from local equity and debt markets, respectively.
The local currency opened at 66.67 a dollar and touched a high of 66.61—a level last seen on 10 November. At 9.54am, the home currency was trading at 66.61—up 0.14% from its Monday’s close of 66.72. Year to date, the rupee has gained 1.9%.
Asian currencies were trading stronger. South Korean won was up 0.53%, Taiwan dollar 0.18%, Singapore dollar 0.05%, Indonesian rupiah 0.04%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.66—up 0.01% from its Monday’s close of 101.64.
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