- Rupee strong…
- Rupee rose on fall in crude oil
- An increase of 25 paise against the dollar
Rupee Strengthens Against US Dollar : The rupee gained about 25 paise to 93.68 against the dollar in Monday's morning session on lower crude oil prices, increased foreign fund inflows and easing tensions in West Asia. (Rupee Strengthens Against US Dollar)
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Rupee's recent rally continues
The rise shows that the rupee has maintained its recent rally after registering its biggest weekly gain since 2026 last week. The rupee is currently at its highest level against the dollar since April. On Friday, the rupee strengthened by 43 paise to close at 93.98 against the US dollar.
The rupee opened at around 93.90 against the dollar
The rupee opened at around 93.90 against the dollar and was trading around 93.70. According to experts, the level of 94, which earlier served as support, has now become resistance. 93.90-94.00 is emerging as the first resistance level, while 94.40-94.50 is the next important resistance level.
Several factors underpin the recent improvement
According to experts, the base level of the rupee against the dollar is 93.40-93.50. The recent correction in the domestic currency has been supported by several factors, including foreign portfolio investment (FPI) inflows of around $1.5 billion, US dollar depreciation, lower crude oil prices and concerns over India's reduced dependence on energy imports.
Crude oil prices also fell
Along with this, the price of crude oil also decreased. Brent crude futures, the global oil benchmark, were down 0.15 percent at $98.17 a barrel. Market sentiment has improved following signals from US President Donald Trump over the weekend. Trump said that if there is good progress in talks on Iran's nuclear program and the Strait of Hormuz, further military strikes against Iran are unlikely.
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