Currency Buzz: INR Extends Winning Streak On Improving Risk Appetite; Dollar Weakness

1 Aug 2022 , 05:06 PM

The Indian rupee appreciated by 16 paise to close at 79.08 (provisional) against the US dollar on Monday on risk-on sentiments, decline in crude oil prices and weak American currency. At the interbank forex market, the local unit opened higher at 79.16 on gains in stocks and fall in crude oil. The rupee touched a high of 79.00 and a low of 79.22 before settling at 79.08 (provisional). In the previous session, the rupee had closed at 79.24 against the US dollar. The dollar index, which measures the greenbacks strength against a basket of six currencies, was down 0.52 per cent at 105.34. Powered by Commodity Insights