Indian Rupee Strengthens Against The U.S. Dollar
Rupee closed at 81.97, appreciating 62 paise against the greenback on Friday.
The Indian rupee appreciated against the U.S. dollar on Friday.
The local currency strengthened 32 paise to open at 82.27 against the greenback, according to Bloomberg data. It closed at 82.59 on Thursday.
The rupee closed at 81.97, appreciating 62 paise against the greenback on Friday.
"Rupee appreciated to 81.90 as flows from Adani Group, kept the dollar on the downside despite the fact that Asian currencies have not appreciated at all and the dollar index was still at 104.70," said Anil Bhansali, head of treasury at Finrex Treasury Advisors.
"However, it was heard that more block deals could have happened in the Adani Group companies, though it was more speculation," he said.
"Rupee is expected to be in a range of 81.50 to 82.50 in the coming days as RBI may step in to recoup its sold dollars and oil companies may continue their buying," he said.