Rupee began trading slightly higher versus the US dollar at 83.18

 Rupee began trading slightly higher versus the US dollar at 83.18

Rupee began trading slightly higher versus the US dollar at 83.18

Indian markets saw growth for the sixth straight session, gaining over 2.5 percent in that time. Both the Sensex and Nifty have increased by almost 17% so far this year.

For the sixth straight session, Indian markets have seen gains, increasing by almost 2.5% throughout that time.

On December 29, the Indian rupee began trading higher against the US dollar as a result of persistent increases in regional equities markets.

The native currency was up 0.21 percent from its previous closing of 83.35 per dollar at 9.10 am.

Indian markets saw growth for the sixth straight session, gaining over 2.5 percent in that time. Both the Sensex and Nifty have increased by almost 17% so far this year.

India showed economic endurance in the face of pressure from global inflation by holding onto its top spot as the leading country in the developing market league based on PMI for nine consecutive months in 2023. The rupee will soon feel the effects.

According to traders, the current increase to 83.17 was caused by consistent capital inflows in November and December, which were fueled by the robust performance of the share market to reach new highs.

The trading of Asian currencies was uneven. The South Korean won 0.24 percent, the Thai baht 0.11 percent, the Taiwan dollar plummeted 0.35 percent, and the South Korean won 0.1 percent. China Offshore had a 0.26 percent increase while the Malaysian ringgit saw a 0.39 percent increase.

The US currency's strength in relation to other major currencies is gauged by the dollar index, which was trading at 101.2 today, down 0.03 percent from its previous finish of 101.23.