Currency Buzz: INR Extends Winning Streak

5 Apr 2022 , 05:16 PM

The Indian rupee continued its winning momentum on Tuesday, rising 25 paise to settle at 75.28 (provisional) against the US dollar, as the American currency and crude oil prices retreated from recent high levels. Weakness in the US dollar against its key rivals boosted investor sentiment, even as the domestic equities settled on a negative note. At the interbank forex market, the domestic unit opened at 75.54 against the US dollar and touched an intra-day high of 75.28 and finally closed at 75.28, registering a rise of 25 paise over its previous close. On Monday, the rupee started the financial year 2022-23 on a bullish note, spurting 21 paise to close at a one month-high of 75.53. Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.09 per cent down at 98.90.

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