Rupee Today: Local currency rises against USD
The rupee pared all the losses of the previous session to gain sharply against the dollar amid cautious trading and reduced liquidity as many markets were closed for holidays.
The national currency last changed hands at 82.6512 per dollar after falling 9 paise in the previous session on Friday to close at 82.8650, according to Bloomberg.
The PTI reported that the domestic currency was up 16 paise against the dollar, provisionally at 82.66.
“Rupee rose on a low-volume day amid lack of demand for cash dollars due to US holidays. It opened at 82.77 per dollar and then traded as low as 82.8350 before some inflows pushed it to 82.66,” said Treasury at Finrex Treasury Advisors.
“The RBI has ensured that the rupee will not fall below 82.90 for now, but the concern is when will that be,” he added.
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