Indian Rupee Strengthens Against US Dollar

Indian Rupee Strengthens Against US Dollar

KUALA LUMPUR, Feb 28 (Bernama) — The ringgit strengthened against the US dollar in early trade Tuesday as investors resumed their interest in emerging currencies, including the ringgit, dealers said.

The Indian rupee fell by 13 paise to Rs 52.84 per US dollar in early trade on the Interbank Foreign Exchange today, weighed down by a lower opening in the domestic equity market.

The Indian rupee fell by 16 paise to Rs 53.18 per US dollar in early trade on the Interbank Foreign Exchange today due to month-end demand for the American currency from importers.

The Indian rupee declined by 24 paise to Rs 53.10 per US dollar in early trade today.

Dollar Steady After US Net TIC Flows Report

The Indian rupee continued its downward spiral against the US dollar on Thursday, hitting another record low due to concerns over the eurozone debt crisis and weak domestic data.

FXstreet.com (Barcelona) – The US Dollar Index, which tracks the greenback against a basket of six major rivals, is keeping its strong pace since the start of a rally in late October (75.00)

The Indian rupee fell by 24 paise to an early low of Rs 51.44 per US dollar in early trade today on fresh demand for the American currency from banks and corporates on the back of a higher dollar in overseas markets.