Rupee Rise by 29 Paise; Closes at 82.37

MUMBAI: The Indian Rupee exchanged hands with the Greenback Currency at a higher stance on Monday. Backed by a weak US Dollar, the Rupee gained 29 paise closing at 82.37 provisionally.

At the interbank foreign exchange market, the local unit opened at 82.41 and touched an intra-day high of 82.25 and a low of 82.44 against the greenback. It finally ended at 82.37 (provisional), registering a rise of 29 paise over its previous close.

The Dollar Index which gauges the strength of the US dollar against a basket of six currencies declined 0.24 percent to 103.62. Global oil benchmark Brent futures rose 3.27 percent to USD 81.14 per barrel.

Gold prices touched an eight-month high on Monday as the dollar slipped on bets for slower US interest rate hikes, according to reports. It is worth noting that spot gold surged 0.4% to $1,873.72 per ounce by 0951 GMT, its highest since May 9, 2022. US gold futures gained 0.4% to $1,877.40, added the report.

As of Jan 9th- 10 grams of 24-carat gold in India is valued at Rs 55,960. One kilogram of silver is being bought and sold at Rs 71,800

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