Dollar to Rupee Rate: Rupee increased by 7 paise against dollar, know what is the latest rate
Dollar to Rupee Rate: Rupee is at the level of 83.73 with an increase of 7 paise against the dollar. Due to the strength of crude oil and the dollar index, the rupee's movement against the dollar is in a limited range. A slight increase is being seen in the Dollar Index, which shows the strength of the American currency against the six major currencies of the world.
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The rupee appreciated by 7 paise against the dollar in early trade on Wednesday and remains at the level of 82.73. The positive trend in the rupee is due to the sustained rise in the Indian stock market.
However, due to the strength of crude oil and the dollar index, the rupee's movement against the dollar remains in a limited range.
According to the Interbank Foreign Exchange, the rupee opened at 82.67 against the dollar and then reached the level of 82.74. However, later it declined and settled at 82.73, rising by 7 paise. On Tuesday, the rupee closed at 82.80 against the dollar.
Yesterday evening's trading session saw pressure on the American currency and due to this, the dollar witnessed weakness against other major currencies.
The movement of the rupee against the dollar will depend on interest rates and crude oil prices in the coming time. Recently, the US Fed had said that they can increase interest rates to control inflation.
The dollar index continues to fluctuate. It has increased by 0.08 percent and remains at 103.61 points. The dollar index shows the strength of the US currency against other currencies of the world. Brent crude is up 0.08 percent at $ 103.61 per barrel.
The equity market is trading with gains. The 30-share Sensex was up 291.53 points or 0.45 percent at 65,367.35 and the NSE Nifty was up 78.20 points or 0.40 percent at 19,420.85. Buying was done by FIIs on Tuesday and shares worth Rs 61.51 crore were purchased.
