Rupee Strengthens Against Dollar: Latest Forex Update, Rupee Opens Higher in Early Trade.
Rupee Strengthens Against Dollar: In today’s forex news, the Indian rupee gains ground against the US dollar due to stock market growth and foreign fund influx.
Get insights on the opening price, RBI’s possible repo rate decisions, and the latest on the dollar index. Plus, a notable update on Gautam Adani’s wealth surge and Adani Group’s stock rise.
Dollar vs Rupee: The Rupee strengthened against the dollar in early trade, trading at this level today.
Due to the rise in the stock market and continuous inflow of foreign funds, the rupee rose by 2 paise to 83.35 against the dollar in early trade today.
Rupee Strengthens Against Dollar: At what price did the rupee open today?
Today, the rupee opened 2 paise higher at 83.35 against the dollar on the Interbank Foreign Exchange. Whereas yesterday i.e. on Tuesday, the rupee had closed at 83.37 against the dollar.
The repo rate may remain stable again.
The bi-monthly meeting of the Reserve Bank of India (RBI) has started today. According to experts, this time also RBI can keep the repo rate stable at 6.5 percent.
Let us tell you that this meeting will last for three days (6-8 December) and on 8 December, RBI Governor Shaktikanta Das will announce the decisions taken in the meeting.
The dollar index weakened.
The dollar index, which gauges the dollar’s strength against six currencies, was trading 0.11 percent lower at 103.93 today.
Apart from this, global oil benchmark Brent crude futures rose by 0.12 percent to US $ 77.29 per barrel.
According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 5,223.51 crore from the capital market yesterday i.e. Tuesday.
Gautam Adani joins the list of the top 20 rich, his net worth increased by 10 billion dollars in a week.
Amid the ongoing boom in the stock market, there has been a huge increase in the wealth of billionaire businessman and Adani Group Chairman Gautam Adani. Gautam Adani’s net worth has increased by $10 billion last week.
According to the Bloomberg Billionaires Index, Gautam Adani’s net worth is $70.3 billion.
Included in the list of the top 20 rich.
Due to the losses incurred after the Hindenburg report, Gautam Adani was out of the top 20 list of the rich, but now due to the surge in his wealth, he has become the 16th richest person in the world.
Ambani ahead of Adani.
In the list of the richest, Reliance Industries Chairman Mukesh Ambani is currently three places ahead of Gautam Adani. Mukesh Ambani is in 13th place on this list with a wealth of $90.4 billion.
Adani Group’s stock rose by 20 percent yesterday.
After a report by the US International Development Finance Corporation (DFC), shares of Adani Group saw a rise of up to 20 percent yesterday i.e. on Tuesday.
The DFC report held that the allegations of corporate fraud made by Hindenburg Research against the group had no merit.