The rupee has been closing marginally higher for the past few days after the plans suggested by the US President Donald Trump failed to hold any ground in the American currency among the international traders around the world.
The rupee has taken support from the domestic stocks that opened higher than the past week. On Wednesday, the gains from the domestic foreign data and the Asian currencies were tracked and it was found that the Indian rupee was closing marginally higher against the US dollar.
Nirmal Singh Lotus Green revealed that on Monday, the home currency closed at 65.36. Over the next two days, the domestic currency showed a continuous improvement and closed at a 0.11% higher rate. The Indian rupee opened at 65.31 and closed at a high of 65.38.
When the domestic traders will be keeping a close eye on the details of the US Federal Reserve which will be released on Wednesday, the government will be taking care of the Index of Industrial Production and Consumer Price Index for both, August and September. The latter will be out on 12th October.
This year, the Sensex has gained more than 20% – the BSE benchmark index which was down at the start of the year rose by 0.24% and closed at 31,924.41 – Nirmal Singh Lotus Green
Overall, the current year has been pretty good for the Indian rupee – it has gained 4% while the investors have put their money in equity and debt – $5.11 billion and $21.29 billion, respectively.
The dollar index that measures the currency strength of US dollar against other currencies has traded at 0.29% low, as mentioned by Nirmal Singh Lotus Green in his report which was brought out last week.