Indian Rupee Gains 5 Paise Against US Dollar
The Rupee on Monday gained 5 paise at 83.42 against USD on selling of US Dollar by bankers and exporters dealers at the Foreign exchange.
Indian RupeeUs DollarForeign ExchangeEconomyCurrencyReal Estate MumbaiJul 01, 2024
This gain in Rupee value is a positive sign for the Indian economy, especially when the global economy is facing uncertainty. The rebounding equity market also boosted the investor sentiment, leading to an increase in trading activities.
Frequently Asked Questions
What was the exchange rate of Indian Rupee against US Dollar?
The exchange rate was 83.42.
Why did the Indian Rupee gain against US Dollar?
The Rupee gained due to selling of US Dollar by bankers and exporters dealers at the Foreign exchange.
What was the impact of weak dollar on the Indian Rupee?
The weak dollar against other world currencies led to a gain in Indian Rupee value.
How did the equity market perform on the day?
The equity market rebounded, boosting investor sentiment and leading to an increase in trading activities.
What does this gain in Rupee value indicate for the Indian economy?
This gain is a positive sign for the Indian economy, especially when the global economy is facing uncertainty.
Related News Articles
Shapoorji Pallonji Group Sells Stake in Hyderabad Project to GIC for Rs 2
The Shapoorji Pallonji Group has sold its stake in the group's Singapore-based joint venture real estate fund (SPREF) held in the TSI Business Parks
Arrow Global Secures $400 Million Commitment from ADIA for European Real Estate Lending
Arrow Global's European Real Estate Lending strategy provides flexible solutions tailored to investors and developers backed by quality living assets.
Gaurs Group Pours Rs 1600 Crore into Luxury Housing Project in Ghaziabad
Realty firm Gaurs Group is investing Rs 1600 crore in a new luxury housing project in Ghaziabad, Uttar Pradesh, amidst strong demand. The 12-acre development has already sold 1216 apartments, generating Rs 3100 crore in sales.
Arkade Developers Makes a Strong Debut on Stock Exchanges with 36% Profit on Listing Day
The company launched 1,040 residential units in Maharashtra's Mumbai Metropolitan Region (MMR) between 2017 and Q1 2023, and it sold 792 residential units in different markets.
Telangana Approves 33 New Positions for Real Estate Appellate Tribunal
The Telangana Finance Department has sanctioned 33 new posts for the Real Estate Appellate Tribunal, directing the MA&UD department to obtain financial approval before initiating recruitment.
Unraveling RBI's Decision: Why the Repo Rate Remained at 6.5%
Given the critical role of real estate, which contributes up to 7% of India's GDP, maintaining rate stability can also ensure development in related sectors...