Rupee (Eco Watch)
Rupee (Eco Watch) The Indian Rupee remained steady on Monday (September 3) as demand of Dollar by oil importers was over-weighed by capital inflows from overseas investors in Indian market.The local currency faced pressure up to some extent from higher demand for US counterparts to pay oil import bills - rising on higher crude oil prices globally. However, rising Indian stocks attracted foreign investors which checked the Rupee losses. Consequently, the local unit remained floating.The Rupee ended at 40.885/895 a Dollar, very close to the Friday`s finish of 40.875/885. The local currency remained range-bound on Friday (September 7) as exporters repatriated profits .With exports increasing at 18.52% to USD 12.49 billion , exporters took advantage of the appreciating Rupee and demanded for more Rupee. Besides that, low inflation of less than 4% may invite RBI to take soft stance on monetary polic y, Rupee settled 40.6875/675 a Dollar, rising from the previous close of 40.79/80.
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