The Indian Rupee (INR) gained 4 paise to 83.57 against the US dollar on Tuesday due to strong foreign fund inflows and domestic equities.
As per forex traders, a strong demand from local importers restricted rupee from moving upward.
The INR opened at 83.59 and finally settled at 83.57 against the US dollar in initial deals, registering a 4 paise rise from its previous closing day. On Monday, the INR fell 10 paise to 83.61 against the US dollar.
Factors such as differentials in interest rates, differentials in inflation, Current Account Deficits, public debt, and Terms of Trade influence currency exchange rates.
Live Currency Exchange Rates:
|
Currency |
Exchange Rate |
|
US Dollar |
83.593169 |
|
Euro |
91.014517 |
|
British Pound |
108.320462 |
|
Australian Dollar |
56.324838 |
|
Canadian Dollar |
61.074841 |
|
Singapore Dollar |
62.146511 |
|
Swiss Franc |
93.368852 |
|
Malaysian Ringgit |
17.862787 |
|
Japanese Yen |
0.526664 |
|
Chinese Yuan Renminbi |
11.505777 |
Read More: Today’s Currency Exchange Rates, July 16