Rupee value strengthened while crude oil drags the US dollar

This week Forex market worked for three days only on the account of Id-E-Milad on Wednesday and Guru Nanak Jayanthi on Friday market declared as holidays. Since this month starting rupee strengthening against the US dollar, and second week also continues the rupee strength and stabled with good position, the main reason is crude oil prices slipping to below $70 per barrel.

  • Last week Indian rupee closed at ₹71.92 with a gain of 0.19 paisa.
  • Highest raise 0.78 paisa on Thursday and no fall overall the week.
  • This week rupee closed at ₹70.67 against the US dollar with the aggregate gain of ₹1.25 only.

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