Rupee back to 78 levels vs dollar as FPIs return to Indian markets

The US dollar index, a measure of the currency against six major rival pairs, was at 105.67 around 6.15 pm IST on Tuesday. It had climbed to a 20-year high of 108.54 in late July

The rupee strengthened well below 79 against the dollar on Tuesday and closed at its strongest level in over a month, as weakness in the greenback globally and a slide in crude oil prices bolstered the appetite for emerging market currencies. The rupee settled at 78.71 per dollar, against the previous day’s close at 79.03. Tuesday’s level was the best for the domestic currency since June 27.

The US dollar index, a measure of the currency against six major rival pairs, was at 105.67 around 6.15 pm IST on Tuesday. It had climbed to a 20-year high of 108.54 in late