Rupee Surges 67 Paise to Settle at 95.85 Against US Dollar
On Friday, the rupee increased by 67 paise to close at 95.18 against the greenback after President Donald Trump hinted at an impending agreement with Iran, sending worldwide oil prices down dramatically. Additionally, the rupee was supported by a strong tendency in local equity markets and a weakening US currency, according to foreign exchange traders.
President Trump has stated that a contract to end the war with Iran is almost finished and is anticipated to be signed in Europe over the weekend, PTI reported.
Before settling at 95.18, 67 paise higher than its previous close, the rupee traded between 94.95 and 95.53 after opening at 95.40 at the interbank foreign exchange. With a drop of 0.20 percent, the dollar index, which gauges the strength of the greenback versus a basket of six currencies, was trading at 99.65.
The Nifty increased by 461.30 points to 23,622.90, while the Sensex climbed by 1,695.40 points to settle at 75,527.95 in the domestic equity market. According to exchange data, foreign institutional investors sold shares worth Rs. 1,082.18 crore on a net basis on Friday, according to reports.
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