Rupee strengthens against dollar to 89.45 on FII inflows, RBI actions

Key Highlights

• The Reserve Bank of India has reportedly sold dollars via state-run banks to prop up the rupee in recent trading sessions. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04% higher at 98.63. The brent crude, the global oil benchmark, was trading higher by 0.83% at $60.97 per barrel in futures trade. FII inflows stood at ₹1,830.89 crore on Friday, according to exchange data. India's forex reserves jumped $1.68 billion to $688.94 billion in the week through 12 December, according to RBI data. Up but still DownThe USD-INR pair has appreciated by about 2% from its recent lows but is still 5% down on year-on-year basis, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP.
• “The broader depreciation trend is intact despite near-term consolidation,” he told the Press Trust of India. Stock MarketBusiness NewsStay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices on Hindustan Times. News/Business/Rupee Strengthens Against Dollar To 89.45 On FII Inflows, RBI ActionsSee Less.