Indian rupee gains 20 paise against US dollar
The rupee gained 20 paise on Monday, reaching 87.39 per US dollar—thanks to a big boost in Indian stock markets right after the Independence Day holiday.
It opened at 87.46, improving from last Thursday's close of 87.59.
A stronger rupee can mean imports get cheaper
A stronger rupee can generally mean imports get cheaper and may signal confidence in India's economy, which could be good news for anyone following tech prices or planning a trip abroad.
Foreign investors sold nearly ₹2,000 crore worth of shares
Massive gains in Sensex and Nifty powered the rupee upward, while experts had predicted it would stay between 87.30 and 87.75 due to strong market momentum.
Still, foreign investors sold nearly ₹2,000 crore worth of shares on Thursday—showing some are cautious as global factors like oil prices, India-US trade talks, and upcoming US Fed decisions keep traders on their toes.