Mumbai: The Indian currency on Tuesday gained ground against the US Dollar which ran out of steam.
At the interbank exchange, a rise by 9 paise was recorded that closed the Rupee provisionally at 81.58 against the Dollar. After four straight sessions of losses, during which the rupee shed 193 paise against the US dollar, this is the currency’s first rebound.
The Indian currency has weakened 9.5 per cent so far this year, with the central bank defending the rupee via dollar sales that have depleted its forex reserves to $545 billion from the peak of $642 billion a year ago.
The dollar index fell 0.2% slipping off a two-decade peak scaled in the previous session. The benchmark 10-year Treasury yield was also off a 12-year peak marked on Monday
Meanwhile, price of gold Gold in India has remained constant on September 27, 2022 for 24 carat and 22 carat. As on Tuesday, gold price in India for 24 carat gold (10 grams) is Rs 49,590 while 22 carat gold (10 grams) cost Rs 45,420.