Dollar falls by Rs1.05 as rupee strengthens for 17th consecutive session

-

<script type="text/javascript"> atOptions = { 'key' : 'dbd28bae1a0f0ef3fc087776f40881d2', 'format' : 'iframe', 'height' : 90, 'width' : 728, 'params' : {} }; document.write('<scr' + 'ipt type="text/javascript" src="//www.profitablecreativeformat.com/dbd28bae1a0f0ef3fc087776f40881d2/invoke.js"></scr' + 'ipt>'); </script>

According to Moneycontrol, the Indian rupee strengthened against the US dollar for the 17th consecutive session on September 28, 2023, with the dollar falling by Rs 1.05 to Rs 83.07. The rupee's gains were attributed to a number of factors, including a decline in the dollar index, positive foreign fund flows, and a rise in risk appetite among investors.



The dollar index, which measures the value of the dollar against a basket of six major currencies, fell by 0.3% on September 28. This was due to a number of factors, including expectations that the US Federal Reserve would slow the pace of its interest rate hikes, and concerns about a global recession.


Foreign fund flows into India have also been positive in recent weeks. According to data from the National Securities Depository Limited, foreign institutional investors (FIIs) have invested Rs 17,500 crore in Indian equities in September so far. This is the highest monthly inflow of FII funds since October 2021.


Finally, risk appetite among investors has also improved in recent weeks. This is due to a number of factors, including the decline in the dollar index, positive foreign fund flows, and a rise in corporate earnings.


The rupee's strengthening against the dollar is good news for Indian businesses and consumers. It will make imports cheaper and boost exports. It will also help to reduce inflation.




 

Comments

Post a Comment

Popular posts from this blog

Suicide blast near Mastung mosque kills 52, injures over 60

-
Image
  Miladun Nabi By Shahab UmerSeptember 29, 2023 People standing around an ambulance after a blast through Mastung, on September 29, 2023. — Reporter People standing around an ambulance after a blast through Mastung, on September 29, 2023. — Reporter QUETTA/MASTUNG: A massive explosion Friday killed at least 52 people including a cop and left around 60 injured, as the death toll from the attack in  Balochistan's Mastung district crawled up. Suspected a suicide blast, the second major explosion in the district in around two weeks' time, rocked the area near a mosque leaving 43 dead and over 50 people injured on the spot, an official said. The district administration shared fears that the death toll could increase following the intensity of the blast. Provincial Caretaker Information Minister Jan Achakzai has appealed to the citizens to donate blood for the blast's victims. Mastung district administration said that 51 wounded people were shifted to Quetta. It said that...
Read more

49ers' Deebo Samuel, Christian McCaffrey go down in loss to Browns

-
Image
49ers  49ers' Deebo Samuel, Christian McCaffrey go down in loss to Browns   The San Francisco 49ers lost their first game of the season on Sunday, falling to the Cleveland Browns 19-17. The 49ers were led by running back Christian McCaffrey, who made his debut with the team after being acquired in a trade with the Carolina Panthers last week. McCaffrey rushed for 108 yards and a touchdown in the loss. Despite McCaffrey's strong performance, the 49ers struggled to move the ball consistently against the Browns' defense. Quarterback Trey Lance completed 16 of 28 passes for 192 yards and a touchdown, but he was also intercepted once. The 49ers' defense had a good day, holding the Browns to just 289 total yards. However, the 49ers were unable to stop the Browns on their final drive of the game, which ended with a field goal by Jake Moody to give the Browns the win. Despite the loss, the 49ers are still in good position in the NFC West division. They are tied with the Los Ang...
Read more

Jaguars Experts Share Final Analysis on Thursday Night Football Matchup vs. Saints

-
Image
 JACKSONVILLE – Each week during the 2023 season, Jaguars "experts" – Tony Boselli, Frank Frangie, Jeff Lageman, Brent Martineau, John Oehser, Brian Sexton, J.P. Shadrick and Kainani Stevens – will analyze the following day's Jaguars matchup. Up this week: The New Orleans Saints at Caesars Superdome in New Orleans, La. Tony Boselli, Jaguars Analyst and Former Jaguars Left Tackle The Jaguars will win if:They protect a dinged Lawrence (assuming he plays) and match the physicality of a good front seven for the Saints. Defensively, the Jaguars must continue to tackle well and limit the splash plays. If they pressure Carr, he will make mistakes. The Saints will win if:Running back Alvin Kamara has a big night with a high volume of touches. This will take the pressure off Carr and allow the Saints to stay ahead of the chains. Defensively, their front seven dominating the line of scrimmage will make the Jags one-dimensional, which is bad news for a beat-up Lawrence. As Boselli ...
Read more