- December 28, 2021
- Posted by: Stratford Team
- Category: Economy
The Indian rupee today jumped sharply today against the US dollar, extending gains to the ninth straight session. The rupee today rose 35 paise to close at a one-month high of 74.66, tracking positive domestic equities and a weak greenback in the overseas market. At the interbank forex market, the local unit opened at 74.92 against the greenback and witnessed an intra-day high of 74.60 and a low of 74.95.
“In the last few sessions, movement in the rupee has been led by RBI intervention and weakness in the dollar index. Most market participants have been on the sidelines on account of Christmas and New Year holidays suggests that the move has been on the back of thin volumes,” Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.
“This week, on the global front, no major economic data is expected to be released and on the domestic front focus will be on the fiscal…
