Rupee strengthens marginally against US dollar on Monday
The Indian rupee strengthened marginally against the US dollar on Monday supported by a weaker greenback, cooling crude oil prices, and improving investor risk appetite. Some support came with exchange data showed foreign institutional investors (FIIs) were net buyers on June 27, purchasing equities worth Rs 1,397.02 crore. Traders took note of report that Reserve Bank of India (RBI) in its latest report ‘India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25’ has said that the country posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 (Q4FY25) as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances.
The partially convertible currency is currently trading at 85.49, stronger by 1 paisa from its previous close of 85.50 on Friday. The currency touched a high and low of 85.53 and 85.44 respectively.
