The Indian rupee witnessed an improvement in early trade on Friday. Weakness in the US dollar and possible intervention by the Reserve Bank of India (RBI) led to the rupee strengthening by 23 paise to 96.65 against the US dollar.
The Reserve Bank of India's recent measures to attract foreign capital could bring in USD 55-65 billion of inflows, strengthen the rupee to around 92 against the US dollar and help India's balance of payments (BoP) turn surplus in FY27, according to a report by State Bank of India.
The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment
Washington: A bipartisan group of US senators has reintroduced a resolution supporting the US dollar’s role as the world’s primary reserve currency, arguing that China is intensifying efforts to build a rival global financial system centred around the yuan. The resolution was introduced by Ted Budd and Jeanne Shaheen. The lawmakers said Beijing’s financial strategy.
New Delhi: Gold and silver prices posted strong gains on Friday, amid rise in the United States–Iran tensions and marginal decline in US dollar. MCX gold April futures gained 0.43 per cent to Rs 1,60,399 per 10 grams around 12.30 am on an intra-day basis. Meanwhile, MCX silver March futures gained 3.05 per cent to.
The rupee fell to a record low on Monday, hitting an intra-day low of 90.80 before closing at 90.74 (provisional) against the U.S. dollar, down 25 paise.
The Indian rupee slipped to a new record low of 90.20 per US dollar today, down from Tuesday’s close of 89.96, reflecting renewed pressure on the currency.
