Mumbai, May 25: The rupee appreciated 34 paise to close at 95.26 against the US dollar on Monday, registering the third straight session of gain, on optimism that the US and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz.
The Indian rupee is not overvalued and may, in fact, be undervalued after its recent depreciation, the RBI governor said in an interview with Mint.
At the interbank foreign exchange market, the rupee opened at 95.36 against the US dollar, then touched an intraday high of 95.12 and a low of 95.44 during the trade.
At the end of Monday’s trading session, the rupee was quoted at 95.26, higher by 34 paise from its previous close.
On Friday, the rupee rose 75 paise to close at 95.60 against the US dollar. (PTI)
