Economy · India
Rupee surges 61 paise to settle at 95.92 against U.S. dollar
The rupee surged 61 paise to settle at 95.92 against the U.S. dollar on Monday, driven by a firm trend in domestic equities and weakness in the U.S. dollar against major currencies. Forex traders attributed this trend to foreign currency inflows, particularly FCNR(B) deposits. The RBI governor also indicated that the domestic currency was undervalued. The rupee opened at 96.18 but lost some ground to trade at 95.92 against the greenback. This move led to a gain of 28 paise from its previous closing level. Global crude prices declined sharply, further aiding the rupee's rise.
How outlets across the spectrum covered it
Left 2 · Centre 7 · Right 4 n = 13
- Left (2): National Herald, The Hindu
- Centre (7): Deccan Herald, Mint, Telangana Today, The Indian Express, The New Indian Express, The Print, The Times of India
- Right (4): OpIndia, Republic World, TFIPOST, The Pioneer