Home Economy and Finance Rupee rises 21 paise against US Dollar, touching a three-month high

Rupee rises 21 paise against US Dollar, touching a three-month high

Other than drop in fuel prices, increased selling of Dollar by exporters and banks and sustained foreign fund inflows have strengthened Rupee

After a historic decline in the oil prices over the last several weeks, now the Indian Rupee, rising for the fourth straight day, has climbed 21 paise to a three month high of 69.64 against the US dollar on Friday. This is another leap by the Indian Rupee after it ended at 71.46 against the US Dollar on Nov 20.

The country had been facing tough times over the last few months due to mounting oil prices and the declining value of Rupee against the Dollar. The rupee had hit an all-time low in the month of October stopping at 73.34 per dollar.

However, the oil prices began to decline towards the end of October providing major relief to the people. And finally on Nov 23, the oil prices fell to a record low in one year as Brent crude oil fell $2.31 a barrel, or 3.7 percent, to $60.29, its lowest since early November 2017. This is the biggest decline in oil prices in one month since 2014.

- Ad - - article resumes -

If we look at the decline in the petrol prices in some major cities in India, as on Nov 23, in Mumbai the rates have come down 12.3% to Rs. 80.12/litre, in New Delhi the prices declined by 11.27% to 74.58/litre, in Bengaluru the prices fell by 11% stopping at Rs. 75.17/litre and similarly Kolkata witnessed a  fall of about 10.3% in the prices to Rs. 76.94/litre.

Similarly, the diesel prices came down to 72.65/litre in Mumbai, 69.38/litre in New Delhi, 69.74/litre in Bengaluru and 71.55/litre in Kolkata.

According to Forex traders, the increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency. The Rupee opened higher at 69.68 at the interbank forex market and rose further to quote at 69.64, showing a rise of 21 paise over its previous close.

On Thursday also, the Rupee had made a 77 paise leap to a three-month high of 69.85 per US dollar.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

Proud to be a brand - Made in India?
Now, Advertise on Opindia

Abusive actor Ajaz Khan arrested by Mumbai Police for instigating violence through social media

Mumbai Police arrests small-time actor Ajaz Khan after he mocked the police on TikTok

Mangalore: Mohammad Ansari rapes a cow by tying its limbs, villagers catch him in the act, arrested

The villagers also made Ansari touch cow’s feet and ask for forgiveness for raping her. However, when Ansari approached the calf, the animal freaked out and started running.

Interview: Former RAW officer makes further shocking revelations about Hamid Ansari after alleging that he endangered lives of RAW officers in Iran

In this exclusive interview, Former RAW (Research and Analysis Wing) officer NK Sood makes further revelations about his time in Iran, Hamid Ansari and the vilified scientist Nambi Narayanan

Kapil Sibal claims Barkha Dutt was sacked before her tweets, won’t be paid anymore, Barkha says Sibal is lying

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 

Live updates Karnataka Trust Vote: Congress-JDS MLAs shout ‘Operation Kamala Dhikkara Dhikkara’, storm well of the House

JDS-Congress government of Karnataka is facing their second floor test after assembly elections were held in May last year.

Revisiting Sainbari, a blot on Indian Democracy: When Communists made a mother eat rice with her dead sons’ blood

The Sainbari incident remains the most horrific instance of political violence in the country.
Image Source: Newstate

Campaign to raise funds for Richa Bharti, who was ordered to distribute Quran by Ranchi court, surpasses target within hours

A 19-year old college student, Richa Bharti was ordered to distribute 5 copies of Quran as a condition of bail by the Ranchi court
Kapil Sibal backed Tiranga TV senior producer accused of sexual harassment

Tiranga TV in yet another controversy: Girl accuses senior producer of sexual harassment, makes lewd chats public

A girl has accused the senior producer of Kapil Sibal backed Tiranga TV of sexual harassment. Himanshi Gupta took to Twitter to make lewd WhatsApp chats public.
Donald Trump took to Twitter to praise Pakistan for Hafiz Saeed' arrest

Hafiz Saeed was living freely in Pakistan, so hold your applause: US Committee gives Donald Trump a reality check

The US House Foreign Affairs Committee had to remind Donald Trump that Hafiz Saeed did not need any searching or finding so he should rather hold his applause.
Tamil media on dead tiger

Tiger dies after eating a Sambar Deer, Tamil Media reports how it died after consuming ‘Sambhar Rice’

On Sunday evening, a tiger was found dead soon after it had eaten a sambar deer. The carcass was found in the Parsons Valley reservoir in the Nilgiris district.
Subscribe to Day's Top Stories
- Advertisment -

Latest articles

Connect with us

173,640FansLike
158,890FollowersFollow
74,855SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post