New Delhi: The rupee strengthened by 35 paise to close at 95.25 (provisional) against the US dollar on Monday. The optimism in global markets over hopes of negotiations between the two powers drove the gains according to experts.
At the interbank foreign exchange market, the rupee opened at 95.36 against the American currency. During the session, it touched an intraday high of 95.12 and a low of 95.44 before ending the day at 95.25.
On Friday, the rupee had appreciated by 75 paise to settle at 95.60 against the dollar. The domestic currency fell by 6% ever since the war between Middle East and Iran began.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six major global currencies, was trading 0.26 per cent lower at 99.98.
Retail gold rates across major Indian cities also moved higher, with 22K, 24K and 18K prices recording gains compared to the previous day.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery climbed by Rs 426, or 0.27 per cent, to Rs 1,59,105 per 10 grams in a business turnover of 5,312 lots. As per PTI, analysts attributed the rise to a weaker US dollar and positive sentiment linked to the ongoing US-Iran negotiations.
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