Indian rupee strengthens on weaker dollar

The Indian rupee strengthened on Monday, supported by a softer US dollar and foreign inflows linked to global equity index adjustments.

The rupee ended at 85.3825 per dollar, up 0.23 per cent from its previous close.

Traders said the local currency was buoyed in early trade by dollar inflows tied to index rebalancing, while broader dollar weakness also lifted sentiment.

The dollar index fell below 99 amid rising trade tensions, after former US President Donald Trump accused China of breaching tariff agreements.

Attribution: Reuters

Subediting: Y.Yasser