Rupee Gains 2 Paise to 83.84 vs US Dollar in Early Trade Amid Lower Crude Oil Prices
Monday, 16 September 2024, 21:23
Rupee Appreciates Against US Dollar
The Indian rupee appreciated by 2 paise to 83.84 against the US dollar in early trade on Tuesday. The gain was primarily attributed to a weak dollar and lower crude oil prices.
Influence of Foreign Institutional Investors
Foreign Institutional Investors (FIIs) have been significant players in this market, impacting the currency and stock exchanges. Their activities in the BSE Sensex and Nifty indices often correlate with movements in the forex market.
Key Market Influencers
- Weak US Dollar: A significant factor in the rupee's appreciation.
- Brent Crude Prices: Falling crude oil prices provide a further boost to the currency.
- Exchange Rate Trends: Monitoring shifts in the dollar index is crucial for understanding currency performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.