Rupee rebounds on unabated foreign inflows

Mumbai The rupee appreciated by 15 paise to close at 81.95 against the US dollar on Monday, as sustained foreign fund inflows and a bullish trend in domestic equities strengthened investor sentiments.

At the interbank foreign exchange market, the local unit opened at 82.01 against the US dollar and settled at 81.95, up 15 paise over its previous close amid a rally in domestic equities, wherein benchmark indices witnessed record high levels. During the day, the domestic unit witnessed an intra-day high of 81.76 and a low of 82.01. On Friday, the rupee closed at 82.10 against the US currency. “The Indian rupee appreciated on positive domestic markets and FII inflows. Domestic equity indices are trading at all-time highs. However, the strong US dollar and surge in crude oil prices capped sharp gains,” said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to 103.13.