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Initially, the rupee gained 21 paise

The dollar strengthened by 21 paise per dollar in the interbank currency market on Monday due to continued investment by foreign investors and the weakening of the dollar in overseas markets. India’s drug regulator on Sunday approved limited emergency use of two vaccines in the country. These vaccines are produced by Kovischild, the University of Oxford, AstraZeneca and the Serum Institute of India, and a completely indigenous Kovichin produced by India Biotech. This has paved the way for mass vaccination in the country.

The rupee stood at .92.93 against the dollar in the interbank currency market. It soon rose to .2.90 per dollar. This is a gain of 21 paise compared to the previous day’s level. The rupee closed at ৩ 3.11 on Friday. Meanwhile, the US dollar index in the basket of six major international currencies fell 0.24 percent to 89.72.

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“The global economic situation has improved as a result of the introduction of the corona vaccine, lower interest rates in the United States and continued purchases of bonds by the Federal Reserve,” Reliance Securities said. He said most of the Asian currencies were strong against the dollar on Monday. They have also contributed to the local currency.

Meanwhile, the domestic stock market advanced in the primary stock market. The BSE Sensex was up 224.28 points at 48,093.26 and the NSE Nifty was up 4.8 points at 14,093.35. Foreign portfolio investors (FPIs) were net buyers in the capital market. According to preliminary data, he bought shares worth Rs 506.21 crore on a net basis on Friday. Brent crude futures, the global benchmark for crude oil, rose 0.98 percent to 52 52.31 a barrel.

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