US Edition
Rupee Rises 5 Paise to 86.26 Against U.S. Dollar in Early Trade
INDIA, JUL 21 – The rupee fell to 86.31 against the dollar due to strong dollar demand from oil importers and cautious markets amid unresolved India-US trade disputes, experts said.
- On Monday, the Indian rupee depreciated 15 paise to close at 86.31 per US dollar, marking its lowest close since June 23.
- Foreign institutional investors offloaded Rs 1,681.23 crore in equities, while the dollar index rose 0.03% to 97.88 ahead of the August 1 deadline, piling pressure on the rupee.
- India and the US concluded the fifth round of trade talks last week in Washington, yet failed to resolve key disputes in agriculture and automobile sectors.
- Forex traders said that after breaching the 86 level, the rupee’s decline intensified as it tracked a strengthening dollar index.
- Expectations of monetary easing, alongside a US team visit next month, suggest continued pressure on the rupee.
12 Articles
12 Articles
Currency Check: The rupee traded in a narrow range in early trade on Tuesday rising 5 paise to Rs 86.26 per dollar amid positive sentiment in domestic equity markets
Rupee Rises 5 Paise to 86.26 Against US Dollar in Early Trade
Get latest articles and stories on India at LatestLY. The rupee traded in a narrow range and appreciated 5 paise to 86.26 against US dollar in early trade on Tuesday, tracking a positive trend in domestic equities. India News | Rupee Rises 5 Paise to 86.26 Against US Dollar in Early Trade.
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