Reasons for rupee upswing
- August 30, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Subject: Economy
Context:
The rupee rose nearly two per cent to 73.40 against the US dollar last week.
Concept:
- FPIs have bought Rs 46,602 crore worth of shares so far in August, the highest monthly inflow in calendar year 2020.
- Analysts said dollar inflows into the stock market and gains in other Asian currencies boosted the rupee’s value.