The Indian rupee gained 21 paise against the US dollar on Monday led by the weakening in the US dollar. The rupee opened a little down today, later extended losses in the early trade but soon moved back on the recovery path and closed higher. The Indian rupee gained as much as 21 paise to end at the day’s high of 64.49 against the US dollar at the interbank foreign exchange market today. In the intraday trade, rupee made a low of 64.83 apiece US dollar. Earlier on Friday last week, rupee retreated from a three-week high, dipped 12 paise to end at 64.7 per dollar.
The Reserve Bank of India fixed the reference rate of the rupee at 64.6948 against the US dollar on Monday. During last week, the rupee strengthened 31 paise against the dollar. Among the currency markets, the euro emerged as a major gainer today. The euro hit a two-month high against the dollar on optimism around German coalition talks. The US dollar fell a quarter of a percent against the yen. The dollar was trading at 111.27 yen, close to a 2-1/2-month low.
In a major development last week, foreign direct investment in India jumped 17% to $25.35 billion during April-September period in the financial year 2018. “FDI in equity during the current financial year 2017–2018 (up to September) surged 17% to $25.35 billion from $21.62 billion in the same period a year-ago.
Meanwhile, Indian stock market closed slightly higher on Monday after trading down till the afternoon session. The 30-share barometer Sensex today settled above 33,700 points, the second time after 6 November, nearing its lifetime closing high of 33,731.19 points. The value buying in the bluechip shares of NTPC, Axis Bank, ONGC, SBI, Wipro were the major gainers on the Sensex. BSE Sensex gained 45.2 points or 0.13% to end at 33,724.44 whereas NSE Nifty added 9.85 points or 0.09% to conclude at 10,399.55. The benchmark Sensex shuttled in a range between 33,745.17 and 33,540.46 in the intraday trade.