Indian Rupee raised by 19 paise here on Friday April 29, 2016 against US dollars which closed at 66.33 regarding country currency’s. Few days ago currency had dipped below by 28 paise making American currency reach 66.52.
Foreign exchange dealers said that weakening of US dollar will help in capital inflow eventually giving a boost to currency. Rupee increased by 66.48 against yesterday’s 66.52 giving a niche close at Interbank Foreign Exchange market. Though the points fluctuated from .28 to .56, thus concluding at .33 with .29% increase. The initial decrease was due to oil refinery sector which resumed at end of the day.
On the other side US dollar was low in comparison to six other currency such as Yen, Pound, Euro, Yuan, etc. The total point dropped was .43% against various country currencies. Yen closed at 18 months high against dollar due to Bank of Japan’s firm decision to keep hold on monetary stimulus.
As per RBI norms, Indian currency was rated upto 66.51 for dollar and 75.73 for Euro. The currency exchange for Pound was marginalized at 97.05. Chinese Yuan was fixed at half a price in the market where as Yen dropped down against Rupee. Although , Yen saw a rise of 3.3 % increase against US dollar despite of its holiday.
The Sensex settled at 25, 606.62 due to six month premium for September staying at ease at 179 to 181 paise in comparison to yesterday’s 180 to 182 paise. Also, the contract for March 2017 staggered down to 368.50 to 370.50 paise amid 370 to 372 paise comparatively.
Overall, in exchange market Dollar eased on sustained receivings from the exporters.