Rupee rises for the second consecutive day against the dollar, closed at the level of 77.25 per dollar

Rupee rises for second consecutive day against dollar

In the currency market today, the domestic unit opened with an increase of 77.24 against the dollar. During trading, the rupee remained in a limited range of 77.17 to 77.31. At the end of trading, the rupee gained 9 paise to close at 77.25.

After a record fall, the rupee has seen an improvement for the second consecutive day against the dollar. The rupee has gained 9 paise to close at 77.25 in Wednesday’s trade. In today’s trade, trading was seen in a limited range in the rupee and the fall in the dollar from its upper levels and the fall of bond yields below 3 percent level gave support to the rupee. Along with this, the market estimates that the Reserve Bank (RBI) is intervening to handle Rs. rupee against dollar ,Dollar vs Rupee) does not fall beyond a limit. Whereas the US inflation rate (inflationMost currencies around the world have remained close to their previous levels. Due to all these reasons, there is an improvement in the rupee.

how was today’s business

In the currency market today, the domestic unit opened with an increase of 77.24 against the dollar. During trading, the rupee remained in a limited range of 77.17 to 77.31. At the end of trading, the rupee gained 9 paise to close at 77.25. The rupee had closed at 77.34 in the previous trading session. Praveen Singh, AVP Fundamental Currency and Commodity Analyst, Sharekhan by BNP Paribas, said the rupee oscillated between gains and losses with the US 10-year yield falling below the 3 per cent level. Sentiments among investors have improved due to fewer cases of Kovid in China. On Tuesday, the number of new cases of Kovid in Shanghai was down by 51 percent, giving hope among investors that restrictions in China will be less in the coming times. Along with this, he said that there are reports that the Reserve Bank is interfering in the futures market, while the fall in crude oil prices has also improved the conditions for the rupee. This has seen an improvement in Rs. Today there was a softening in the dollar index and the index has come down from the record level of 104.49 for 20 years. Today the dollar index fell by 0.39 percent and reached the level of 103.51.

read this also



where can the rupee reach

Anindya Banerjee, VP Currency Derivatives, Kotak Securities, said that the rupee may remain in a limited range against the dollar in the short term. According to him, due to the intervention of the Reserve Bank and the money coming into the country due to the IPO, during this period the rupee can remain between the level of 76.8 to 77.7. On the other hand, Motilal Oswal’s forex analyst Gaurang Soumeya has predicted that in the short term, the dollar-rupee exchange rates may remain in the range of 77 to 77.6, maintaining the upward trend.