On 10 February, the rupee reached the best level of 87.94. Since then, it has recovered Rs 1.94, ie there has been an increase of 2.20 percent. While in January, the dollar index fell to the level of 110. So far it has decreased by 5 to 6 percent. The rupee has come to a biggest decline in two years. Due to which the dollar wall has collapsed.

Big boom in rupee

The rupee reached a two -year highest level, showing a continuous increase in the last 6 business days and the dollar wall collapsed. During this, the rupee increased by Rs 1.23 against the dollar. This means that the rupee saw an increase of about one and a half percent. The special thing is that the rupee reached its all -time low level 87.94 on 10 February. Since then, it has recovered Rs 1.94, ie there has been an increase of 2.20 percent. While in January, the dollar index fell to the level of 110. So far it has decreased by 5 to 6 percent.

The rupee rose by 36 paise to close at Rs 86 per dollar against the US dollar in the sixth consecutive trading session on Friday with a rapid rise in domestic stock markets and fresh foreign capital flows. The rupee opened at 86.26 in the Interbank Forex Exchange Market. It then touched the highest level of 85.93 and the minimum level of 86.30 during intraday trading. At the end of the session, the rupee closed at 86 against the dollar, showing a gain of 36 paise from the previous closed level. The rupee remained almost unchanged on Thursday and closed at 86.36 with just 1 paise against the US dollar. This is the sixth consecutive session in the rupee when it has increased. During this time it has increased by 123 paise.

Rupee may be stronger

The rupee is expected to strengthen due to strength in domestic stock markets and new investment by FII. However, a positive rise in crude oil prices can prevent rapid growth. The spot price of USDINR is expected to be between 85.80 and 86.25. Meanwhile, the dollar index, which measures the dollar strength against the basket of six currencies. It was trading 0.19 percent to 104.04.

Stock market boom

Global Oil Benchmark Brent crude futures fell 0.29 percent to $ 71.79 per barrel. The 30 -share BSE Sensex in the domestic stock market rose 557.45 points, or 0.73 percent, closed at 76,905.51 points, while the Nifty rose 159.75 points, or 0.69 percent to close at 23,350.40 points. According to exchange data, foreign institutional investors earned a net profit of Rs 1,000 crore on Thursday. Shares worth Rs 3,239.14 crore were purchased.