Currency Buzz: INR Settles Slightly Higher As Dollar Takes A Breather

20 Jun 2022 , 05:00 PM

The Indian rupee appreciated by 7 paise to settle at 77.98 (provisional) against the US dollar on Monday amid weakness in the greenback and as crude oil prices retreated from elevated levels. However, unabated foreign fund outflows restricted the appreciation bias in the rupee. At the interbank forex market, the local unit opened strong at 77.98 against the greenback and witnessed an intra-day high of 77.87 and a low of 78.03. It finally settled at 77.98, a rise of 7 paise over its previous close of 78.05. The dollar index surged to a fresh two-decade high of 105.79 last week and is currently quoting at 104.38. Powered by Commodity Insights