Currency Buzz: INR Maintains Appreciation Bias

17 Aug 2022 , 05:00 PM

Persistent foreign capital inflows and heavy buying in domestic equities strengthened the Indian rupee on Wednesday. Rupee gained 29 paise to settle at 79.45 (provisional) against the US dollar. Besides, softening crude oil prices and easing inflationary pressures supported the domestic unit. At the interbank forex market, the local unit opened strong at 79.32 against the greenback and witnessed an intra-day high of 79.26 and a low of 79.48. It finally ended at 79.45 against the American currency, registering a rise of 29 paise over its previous close of 79.74. The dollar index, which gauges the greenbacks strength against a basket of six currencies, rose 0.06 per cent to 79.74.Powered by Commodity Insights