WEEKLY CURRENCY REPORT:RUPEE APPECIATED 0.04% OR 3 PAISE AGAINST US DOLLAR ON A WEEKLY BASIS

Currency market remained flat in this week because of Budget presentation and RBI policy rate outcome but unchanged. On a weekly basis, the rupee ended 3 paise or 0.04 per cent higher at 72.92 against US dollar without much deviation compared to the last week close. For this week, USD/INR touched low at 72.79 and high at 73.15. On Monday, The rupee opened 6 paise higher to 72.89 per US dollar ahead of the Union Budget 2021-22 presentations in Parliament but depreciated by 7 paise to close at 73.03 against the US dollar tracking a rebound in the American currency overseas. The rupee closed at 72.96, higher by 8 paise on Tuesday. The market is very flat and volatility was muted on Wednesday. On Thursday, Rupee closed at 72.95, higher by 1 paise. On Friday, Indian Rupee gained strength amid surge in domestic markets and as Reserve Bank of India kept repo rate unchanged at 4.0 per cent and maintained its accommodative stance.