In the interbank foreign exchange market, the rupee opened at 77.62 against the US dollar, up 4 paise.
The rupee appreciated against the US dollar.
STRONG POINTS
- Sensex lost 368 points
- Nifty fell 0.66%
- The rupiah finally stabilized at 77.66, down 6 paise, on Friday
The rupee rose against the US dollar in early morning trading on Monday. The initial gains came after the Rupee closed down 6 paise at 77.66 against the American on Friday.
In the interbank foreign exchange market, the rupee opened at 77.62 against the US dollar, up 4 paise, according to PTI.
Meanwhile, domestic shares Sensex and Nifty fell into the red in Monday’s opening trade. The Sensex lost 0.66% or 368 points to 55,401.23. The Nifty fell 0.66% or 108.80 points to 16,475.50
On Friday, the rupiah finally stabilized at 77.66, down 6 paise from its previous close at 77.60. Traders said continued outflows of foreign funds and widening trade deficit weighed on the local unit.
India’s merchandise exports in May rose 15.46% – the slowest in 15 months – to $37.29 billion, while the trade deficit climbed to $23.33 billion, according to official data released Thursday after market hours.
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