Indian Rupee Gains Slightly Amidst Dollar Shortage Concerns

17 Oct 2023 , 10:55 AM

On October 17, the Indian rupee showed a slight increase against the US dollar, aligning with the mixed performance of Asian currencies. The rupee started the day at 83.22 rupees per dollar and, by 9:10 AM, had risen to 83.24 rupees per dollar, indicating a 0.05 % gain from the previous day’s closing rate of 83.28 rupees per dollar.

Meanwhile, Asian currencies exhibited varied performance, partly influenced by the US’s escalated efforts to prevent the Israel-Hamas conflict from expanding into a broader regional issue.

The dollar index, measuring the US dollar’s strength against major currencies, was observed at 106.297, reflecting a minor 0.05 % increase from the previous close of 106.243.

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