Here are 5 Things To Know About Rupee-Dollar Trade Today1) The dollar index had hit a more than over 2-year low of 91.011 on Friday as investors worried about the short-term impact of Hurricane Irma on US economy and the tensions between North Korea and the United States. The dollar index measures the value of the greenback relative to a basket of foreign currencies like yen, euro and pound.
2) However, the dollar index rebounded on Monday. Madan Sabnavis, chief economist of CARE Ratings, said dollar index is one of the factors that affects the rupee. "When dollar weakens in global market, other currencies tend to gain, which is also happening here," he said.
3) Improving investor risk sentiment helped in the rebound in dollar as worries over North Korea and Hurricane Irma receded. The dollar was steady at 109.345 yen today after rallying 1.4 per cent overnight, its biggest one-day surge since mid-January.
5) Currency traders also turned cautious ahead of release of key macro data, including IIP and inflation, later in the day, said some traders.
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