Rupee opened sturdy as dollar index continues to collapse

13 Jan 2022 , 01:30 PM

The Indian rupee opened stronger against the greenback on Thursday, as the US dollar index continues to stoop beyond the significant 95 level, and was last seen at 94.97 as against 95.99 at the inception of this week. A sharp overnight rise in global crude oil prices may be responsible for this abrupt rise in Indian Currency.

The rupee opened at 73.7560 per US dollar on Thursday morning trade against the previous close of 73.9100/$. 

The dollar index continues to weaken as investors are not surprised with the increasing inflation in the US economy, and did not in any way see this impacting the Federal Reserve’s current stance towards normalization of policy. 

The Euro trade continues at Rs 84.72 after opening at 85.50.