Rupee's 5-day winning streak ends with the currency closing at ₹93.93
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The rupee closed at 93.93 per US dollar on Monday, ending a five-day winning streak.
- ✓State-run banks bought dollars, causing the currency to fall from Friday’s close of 93.91.
- ✓Experts said the overall outlook for the rupee remains positive, supported by lower crude prices and improving foreign capital inflows.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Indian currency closed at 93.93 per US dollar (USD) against last Friday's close of 93.91 and in intraday trade, it tested a high/ low of 93.69/94.11
The rupee closed a shade weaker on Monday, ending a five-day winning streak, as state-run banks bought dollars at the RBI's behest amid thin trading volumes.
The Indian currency closed at 93.93 per US dollar (USD) against last Friday's close of 93.91. Intraday, it tested a high/ low of 93.69/94.11.
Dilip Parmar, Senior Research Analyst, HDFC Securities, noted that the rupee registered a technical retracement, snapping a five-day winning streak amid state-run bank dollar buying ahead of a market holiday.
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