Indian rupee strengthens for third consecutive day

The Indian rupee extended its winning streak for the third consecutive session on Monday, supported by dollar sales from exporters and foreign banks, as well as a weaker US dollar, which remained near a five-month low against major global currencies.

The rupee closed at 86.80 per US dollar, reflecting a 0.2 per cent increase. During the session, it surged to 86.7625, its strongest level since February 24, before slightly retreating.

The continued upward momentum in the rupee is largely attributed to sustained dollar inflows and global currency trends, with market participants closely monitoring further developments in the forex landscape.

Attribution: Reuters

Subediting: Y.Yasser