The Rupee increases by 15 paisa to close at 79.76 against the US Dollar.
On Thursday, the Indian rupee strengthened by 15 paise to settle at 79.76 versus the US dollar
on expectations that the US Fed will raise interest rates more slowly than expected in the coming months and strong local stock markets.
The rupee closed the day at 79.76 versus the US dollar on the interbank foreign currency market, down from 79.91 on Wednesday. On Wednesday, the local currency decreased by 13 paise.
"A delayed rate rise schedule encouraged lower DXY and bond rates, narrower credit spreads, and stronger global stocks.
After digesting the FOMC decision, DXY recovered from its lows, and 106.20 currently serves as an immediate support; only a break of it may lead to levels as low as 105.64 "
said Assistant Vice-President Kunal Sodhani of Shinhan Bank India.
The dollar index, which measures the value of the dollar against a basket of six different currencies, increased 0.12% to 106.80.