Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome

The RBI's rate-setting panel - the Monetary Policy Committee - will announce its bi-monthly review later in the day. Persistent foreign fund inflows into capital markets and softening crude oil prices boosted the local currency

|Aug 05, 2022, 11:03:11 IST

Mumbai: The rupee appreciated 46 paise to 78.94 against the US dollar in early trade on Friday ahead of the Reserve Bank of India's policy meeting outcome.

At the interbank foreign exchange, the rupee opened at 79.15 against the American dollar, then touched 78.94, registering a gain of 46 paise over the last close.

On Thursday, the rupee depreciated by 25 paise to close at 79.40 against the dollar.

Persistent foreign fund inflows into capital markets and softening crude oil prices boosted the local currency.

Meanwhile, the dollar index, which gauges the dollar's strength against a basket of six currencies, advanced 0.14 per cent to 105.84.

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Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome

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South Korea economy grows faster than expected in Q2 as chip exports power recovery

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Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

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