Indian rupee up vs dollar on equity inflows

The Indian rupee strengthened slightly against the US dollar on Monday, buoyed by potential investments in Indian equities and dollar sales by state-run banks, as reported by India’s The Economic Times.

The rupee closed at 83.3625 per dollar, marking a 0.1 per cent gain from Friday’s record low of 83.5750. This modest recovery comes after intervention by the central bank and a reduction in regional tensions.