Mumbai, Nov. 9 -- The rupee appreciated 21 paise to 93.77 against the US dollar on Monday, boosted by easing crude oil prices, stronger foreign fund inflows, and optimism regarding de-escalation in West Asia.
Forex traders said continued foreign inflows, stable crude, and a mild dollar offer tailwinds for the rupee. However, gains were capped by renewed greenback demand, geopolitical risks, and a rebound in energy prices.
In the interbank forex market, the rupee opened at around 93.85 against the US dollar and traded in range of 93.69-94.11, before ending the session at 93.77, up 21 paise from its previous close.
On Friday, the rupee surged 43 paise to close at 93.98 against the US dollar.
Meanwhile, the dollar index was trading at 101.83, lower by 0.45 per cent. Meanwhile, India's forex reserves fell $2.691 billion to $717.056 billion during the week ended October 30, the RBI said on Friday.
Published by HT Digital Content Services with permission from Millennium Post.