INSUBCONTINENT EXCLUSIVE:
The rupee is down 3.95% against the dollar so far this yearThe rupee appreciated for a second straight day on Friday supported by weakness
in the US dollar overseas, as investors awaited more clarity on US election results, and lower crude oil prices
A rally in domestic equities amid continuous foreign fund inflows supported the domestic currency.The dollar index - which measures the
$40 per barrel as new lockdowns in Europe to halt surging COVID-19 infections sparked concern over the demand outlook while drawn-out vote
counting in the US election kept markets on edge
relatively mild compared to other Asian currencies
Hence, when other currencies depreciated by more than 1.5-2 per cent on intraday basis, the rupee remained marginally weak showing the RBI's
activeness in managing the volatility and preventing rupee from depreciating sharply," said Amit Pabari, managing director at forex
advisory firm CR Forex."Weakness in the dollar and rally in equities, the momentum of the rupee suggests that the (USD-INR) pair is paving
