New Delhi, 3 September (Udaipur Kiran) — The Indian rupee ended Wednesday on a stronger note against the US dollar, closing 10 paise higher at 88.07 (provisional). The local currency was buoyed by falling crude oil prices, a weaker dollar index, and continued buying by foreign investors in the Indian stock market.
The rupee opened the day at 88.15 per dollar, up by 2 paise from the previous close of 88.17. During early trade, the rupee briefly slipped to 88.19, but soon gained strength as foreign inflows increased and international crude oil prices declined. In positive market conditions, the rupee touched an intraday high of 87.98 against the dollar. However, some renewed demand for dollars in the second session led to a slight pullback.
After a day of volatile trading, the rupee closed 10 paise stronger at 88.07 per dollar.
According to Ravi Chander Khurana, CEO of Khurana Securities and Financial Services, the rupee was supported by a drop in global crude oil prices and a weaker dollar index. On Wednesday, Brent crude fell 1.91% to $67.82 per barrel, while WTI crude slipped 2.33% to $64.13 per barrel. The dollar index also weakened by 0.15% to 98.25. These factors contributed to the rupee’s strength against major global currencies.
In today’s trade, the rupee also gained 5.63 paise against the British Pound, closing at 118.07 (provisional), but fell by 7.27 paise against the Euro to close at 102.67 (provisional). The overall sentiment remained positive for the Indian currency in the foreign exchange market.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
