Sensex gains over 200 points, rupee rises to 90.73/dollar
Business
The rupee started Monday on a positive note, rising to 90.73 against the dollar—up by 21 paise from last week's close.
Stock markets also kicked off higher, with Sensex and Nifty both making solid gains in early trading.
A stronger rupee can affect oil import costs
A stronger rupee can affect oil import costs and household prices.
While the rupee had weakened earlier, it's shown some gains this month.
Plus, India's forex reserves just hit a record high.
Gains could be limited going forward
Falling global oil prices and a weaker US dollar have helped boost the rupee.
But experts say if demand for dollars picks up again, gains could be limited going forward.