💨 Abstract

The Indian rupee appreciated 5 paise to close at 84.05 against the US dollar on Monday, supported by strong domestic equity markets. The Reserve Bank of India's intervention and record-high reserves aided the recovery. However, forex traders predict a negative bias due to foreign fund outflows and Middle East geopolitical uncertainties. The rupee is expected to trade in a range of Rs 83.90

Courtesy: theprint.in

Summarized by Einstein Beta 🤖