In the early trade session on Wednesday, the Indian rupee continued its upward trajectory for the second consecutive day, marking a gain of 6 paise to reach 83.28 (equivalent to Dh22.69) against the US dollar.
This surge was propelled by several factors, including a weaker US dollar and increased foreign investments in domestic equities.
Factors Driving Rupee’s Rise:
Forex traders attributed the rupee’s ascent to a positive sentiment prevailing in the domestic equity markets.
Additionally, the decrease in crude oil prices played a significant role in bolstering the Indian currency.
Rupee’s Performance in Trading:
At the onset of trading in the interbank foreign exchange, the rupee commenced stronger at 83.30 against the dollar.
Although it experienced a minor dip to 83.33, it later rallied to settle at 83.28 against the greenback, marking a 6-paise increase from its previous close.
