Published on 15/05/2017 1:27:04 PM | Source: Dion Global Solutions Ltd

Rupee extends rally against greenback

Posted in Currency Top News | #Rupee #US dollar #India #Currency News

The Indian Rupee extended rally against the greenback on Monday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. Adding to it, firmness in the domestic equity market also gave a lift to rupee.

At the Interbank Foreign Exchange Market, the local currency was up by 24 per cent to trade at 64.21 per dollar against a previous close of 64.45 per dollar at 12:05 hour. Meanwhile, the 30-share barometer SENSEX was trading at 30315.87, up by 127.72 points or by 0.42 per cent, and the NSE Nifty was at 9441.2, up by 40.3 points or by 0.43 per cent.

As on May 12, 2017, the FIIs emerged as net buyer in both equity and debt segment. Gross equity purchased stood at Rs. 5112.04 Crore and gross debt purchased stood at Rs. 1273.18 Crore, while the gross equity sold stood at Rs. 3677.16 Crore and gross debt sold stood at Rs. 482.26 Crore. Therefore, the net investment of equity and debt reported were Rs. 1434.88 Crore and Rs. 790.92.