The Indian rupee has gained against the dollar, thanks to a positive trend in stocks and foreign investment. The Indian Rupee opened at 79.87 to the US Dollar and gained 6 paise before closing at 79.86.
The rupee declined by 6 paise to close at 79.92 against the American currency in the previous session.
The dollar is rising against other currencies. The latest statistics show a 0.05% increase to 108.51.
Investors Seeking Jerome Powell's Speech
Brent crude futures the global oil benchmark rose. Forex traders said that the rupee is expected to trade in a range this Friday; investors are waiting for Jerome Powell's speech.
Markets could remain range bound as oil prices and trades in Asia dictate future markets.
On Friday, 26 Aug in the year 2022, read more articles on Pure Politics and Pharma & Companies. Singtel will sell 3.33% of their shares of Bharti Airtel to Bharti Telecom over time.
KKR is in talks to invest around $400 million in Hero Group's renewable energy company with the goal of investing in clean energy.
Gazprom, a state-owned international energy company, has been in talks with GAIL to purchase their fuels in the past month. Gazprom proposes that they trade by exchanging fuel locally and payments made in euros.
The RBI has tightened liquidity, which is causing the rupee to fall in value. Sensex and Nifty are both down due to the RBI's tighter liquidity.