Dollar inflow pushes up the value of Indian rupee
On Tuesday, the Indian rupee was trading stronger because there was mild inflow of both dollar as well as euro.
In the afternoon at 3:08 p. m., the partial convertible rupee was at INR=IN was at 45.78/79 per dollar. As compared to Monday, when the value was at 45.90/91, this was a much stronger position.
This marginal up is the only rise that it has seen ever since it saw a steep to be at a two months low of Rs. 46.01 per dollar. This happened because of rising worries on the Egyptian front.
In the same respect, importance of euro cannot be missed which because of support from the local currencies was at 45.82.
Against it the rupee was trading at 6 paise lower or 0.13 per cent. Because of the worries in Egypt, the markets also reacted in a negative tone and local shares failed to continue with gains. Almost all of Indian stocks felt the weight during the day.
But the same trend was not seen in the Asian stocks that traded on the Wall Street. Because of a row of good earnings results, the investors were found attracted towards the shares.