Rupee's strongest opening after nine years, know the reason for 'achche din' of indian currency?

Rupee gets stronger versus Dollar: Rupee opened at 80.6888 on the last trading day of the week, whereas in the previous session it closed at 81.8112 points. On friday, the rupee opened with a strength of 10 paise against the dollar.

There has been a sharp jump in the indian rupee on Friday. The rupee has recovered the losses incurred in the previous sessions. It is believed that the dollar has declined due to lower-than-expected inflation data in the US and this strengthened the rupee. In friday morning's session, the indian rupee was seen trading at Rs 80.75 per dollar.

The rupee opened at the level of 80.6888 on the last trading day of the week, while it closed at 81.8112 points in the previous session. On friday, the rupee opened with a strength of 10 paise against the dollar. This is the biggest opening in the last nine years in rupees. Since september 2013, the rupee has opened with the biggest gain on friday (November 11) and is trading at a seven-week high.

The nearest support level for the rupee against the dollar index is Rs 80.50. In the opening session, the rupee traded in the range of Rs 80.6788 to Rs 80.7525 and remained consistently below Rs 81 per dollar. According to market experts, the US dollar has cleared the way for the rupee to rise after rising to 81.91. The nearest support level for the rupee against the dollar index is 80.50 while the psychological level is 80. It is expected that on friday, the rupee will continue to trade between the level of 80.25 to 81 for the whole day.

The global market showed strength due to the reduction in inflation in America. In the US, the inflation figures for october have been lower than the market estimates, due to which the global stock market is showing good strength. There is heavy pressure on the dollar index and it has come down below the level of 108. The result of this is that today the rupee opened with a jump of 110 paise against the dollar.