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The rupee gained a touch in a volatile session, aided by the stock rally


The rupee gains a touchdown in a volatile session on Monday, accompanied by a stock rally

The Indian rupee gained a touchdown on Monday to close at $ 76.55 per dollar on Monday, lowering its gains at the start of the session after a turnaround on Friday, closing at a weaker than 0.4 per cent at 76.61.

Domestic stock levels began to rise earlier in the week as Sensex garnered more than 900 points as crude oil rates fell.

In fact, the benchmark Brent crude oil lost more than 3.5 percent in the last trade of about $ 108 per barrel, allaying fears of runaway inflation. But as the conflict between Russia and Ukraine progresses, traders have warned that the retreat is not far off.

The energy-sensitive rupee was reported by Reuters news agency at $ 76.58, the PTI said the coin was finally placed at $ 76.55, up from $ 76.61 at the previous close.

In the interbank exchange market, the rupee opened at 76.63 against the dollar. During the day, it ranged from 76.52 to 76.69 per dollar.

Inflation based on wholesale prices rose to 13.11 percent in February as a result of hardening prices for crude oil and non-food products, even as food softened.

After a two-month hiatus, WPI inflation accelerated in February and remained double-digit for the 11th consecutive month, beginning in April 2021.

What has not helped the rupee in recent days is capital outflows.

Foreign institutional investors continued to sell in Indian markets as they unloaded 2,263.90 million euros worth of shares on Friday, according to stock market data.



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