Indian Rupee vs dollar: Selling by exporters and banks amid foreign capital inflows affects rate
Indian rupee firmed up by 8 paisa, and moved between 64.92 and 64.87 at the interbank forex market.
Indian rupee today maintained a positive momentum against US benchmark dollar index by rising over 0.106 points or 0.16% at 64.975. This, as per reports, was due to dollar selling by exporters and banks amid foreign capital inflows.
In opening trade today, Indian rupee firmed up by 8 paisa, and moved between 64.92 and 64.87 at the interbank forex market.
A Reuters report highlighted that the dollar's weakness against other currencies overseas after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, also supported the rupee sentiment.
Foreign Portfolio investors (FPI) in previous day, brought shares worth Rs 6,664.99 crore, while made gross selling of Rs 6,762.92 crore, resulting in outflow of Rs 97.93 crore, as per NSDL data.
So far in six days of March 2018, FPI has removed about Rs 4,257 crore.