Re rises 7 ps, settles at 83.30/1$
image for illustrative purpose
Mumbai: The rupee appreciated 7paise to settle at 83.30 against the US dollar on Friday, following positive cues from equity markets and strong domestic macroeconomic data. Forex analysts said easing crude oil prices in the international markets also favoured the local currency. Global crude price retreated from the level of $84 to $80 per barrel as oil-producing countries’ grouping OPEC+ agreed not to reduce output in 2024, they added.
At the interbank foreign exchange, the rupee opened stronger at 83.29 against the dollar and traded between the peak of 83.25 and the lowest level of 83.36 against the American currency intra-day. It finally settled at 83.30 against the greenback, registering a gain of 7paise over the previous close. The rupee settled 5paise lower at 83.37 against the dollar on Thursday.
