Monday, 17 January, 2022

Rupee gains on jobs data

Rupee gains on jobs data

Popular News

NEW DELHI: The Indian rupee strengthened against the US dollar, while bond prices weakened on Monday, led by different considerations.

The Indian currency closed at 74.038 a dollar, up from its previous close of 74.31 a dollar. Currency dealers say the Reserve Bank of India (RBI) let the rupee appreciate at first but later intervened to mop up the excess supply of the US unit, report agencies.

The dollar generally remained weak against other currencies after jobs data for December showed that the US added just about half of over 400,000 expected in the labour force. But the unemployment rate, a key gauge, fell below 4 per cent, keeping the rate hike probabilities unchanged, said CR Forex.

The general weakness in the US dollar was also reflected in the region, with most currencies strengthening against the greenback.