The Indian Rupee started the day on a positive note, strengthening against the US Dollar as it opened at 82.68, reflecting a gain of 4 paise compared to the previous day’s closing rate of 82.72. As of 11:20 AM, the Rupee continued to trade at the level of 82.74 against the Dollar. The day’s high reached 82.78, while the low touched 82.68.
Dollar Index Holds Steady at 104.14
The Dollar index is currently trading at 104.14, with a day’s high at 104.27 and a low at 104.12. This indicates a minor increase of 0.10 percent from its previous close of 104.24 on Friday.
Meanwhile, crude oil prices have surged to an eight-month high, with Brent crude oil crossing the $90 per barrel mark. This upward momentum in crude prices is attributed to supply constraints, the strengthening US economy, and production cuts implemented by Russia and OPEC countries.
Crude Oil Prices Soar to Eight-Month High
On September 1st, Foreign Institutional Investors (FIIs) purchased Rs 487.94 crore worth of assets in Indian markets, while Domestic Institutional Investors (DIIs) bought Rs 2294.93 crore on the same day.
In comparison, other Asian currencies are experiencing weakness against the Dollar. Malaysia’s Ringgit is down by 0.2 percent, the Philippines peso is trading 0.12 percent lower, and the Taiwan dollar and Thai baht are both down by 0.11 percent. Conversely, South Korea’s currency shows a 0.16 percent increase, and the Chinese yuan is up by 0.07 percent.