By Admin 
Indian Rupees Stranger: The Indian rupee strengthened 40 paise to 85.05 per dollar during early trade on Monday on the basis of weak trend of American currency and positive domestic stock markets. Foreign currency traders say that the local currency has also been greatly strengthened by the flow of foreign capital and the announcement of the Reserve Bank of India (RBI) to give a record dividend to the Central Government for FY 2024-25.
Rupee strong
The rupee opened at 85.02 per dollar in the Interbank Forex Exchange Market. After that, strong and reached 84.98 per dollar. After this it came to 85.05 per dollar, which shows a faster increase of 40 paise than the previous closed price. The rupee closed at 85.45 against the US dollar on Friday. Meanwhile, the dollar index, depicting the US dollar position against six major currencies, fell 0.34 percent to 98.67.
The BSE Sensex rose by 630.68 points to 82,351.76 points in the domestic stock market, while the Nifty gained 187 points to 25,040.15 points. International standard Brent crude gained 0.32 percent to a price of $ 64.99 per barrel. According to the stock market data, foreign institutional investors (FIIs) were living on Friday and purely sold shares worth Rs 1,794.59 crore.
Dividend’s strength
Significantly, RBI has announced a record of Rs 2.69 lakh crore for financial year 2024-25. At the same time, according to the new weekly data released by the Reserve Bank of India on Friday, India’s foreign exchange reserves declined by $ 4.888 billion to $ 685.729 billion in the week ended May 16.
Significantly, RBI has announced a record of Rs 2.69 lakh crore for financial year 2024-25. This is an increase of 27.4 percent compared to a divident transfer of Rs 2.11 lakh crore of previous financial year 2023-24. This contingent risk is after a change in the boundary of buffer, which the central bank can maintain up to six percent (plus or minus 1.5 percent). The buffer was previously maintained between 5.5 percent and 6.5 percent.
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