)
Despite hitting a new low, the rupee managed to close one paise stronger at 82.32 in the interbank foreign exchange market on suspected intervention by the Reserve Bank of India. However, demand for the dollar continued in post market trade and the rupee was traded at 82.40.
Most Asian currencies depreciated against the dollar on Monday with the South Korean Won, the Chinese renminbi and the Indian rupee falling the most. Other currencies that weakened included the South African Ran, Taiwanese dollar and the Euro.
The dollar index, which measures the greenback’s performance against six major currencies, gained 0.23% to 113. Dealers said that geopolitical tensions arising out of escalation of the Russia-Ukraine conflict added to he dollar sgtrength.
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