The Indian Rupee appears to be on course for some minor improvement in its status against the US dollar. The nation's currency regained some of its lost value, with one dollar amounting to less than 87 rupees, due to a recent increase in value.
The distinction between the two currencies dipped to just under the 87, after inching closer to the 88 mark.
Indian Rupee Improves
This comes at the back of positive inflation numbers that emerged in the post-market hours in India on February 12. It is to be noted, that inflation numbers for the United States were also out yesterday.
The Indian inflation rate or CPI, eased to 4.31 per cent compared to the previous month's 5.22 per cent.
In the US, the developments travelled in a different direction, as the benchmark rate rose to 3 per cent, above the US Fed's 2 per cent target.
The Sensex, at the time of writing, stood at 76,478.88, with gains of 307.80 points or 0.40 per cent. | Representative Image
Amidst these developments, the Indian currency bettered its position against the US dollar, right ahead of PM Modi's visit to the United States.
The Indian equity markets also woke up on a good note after a seesaw battle yesterday, when the markets lost 1 per cent earlier in the day, to recover later, only to close in red.
Indian Markets
The story was different, as Dalal Street started the day's trade on Thursday. The indices, Sensex and Nifty, were trading in green.
The Sensex, at the time of writing, stood at 76,478.88, with gains of 307.80 points or 0.40 per cent.
Nifty also rose, increasing 90.25 points or 0.39 per cent, climbing to 23,135.50. Nifty bank also traded in green. The banking index rose to 49,641.30, with a plus of 161.85 points or 0.33 per cent.
When we take a closer look at the recent progress of the Indian rupee, the value of the currency, as per the latest data, stands at 86.82 against the United States Dollar, which is also the world's reserve currency.
This is lower than the previous day's settlement. On February 6, the Indian rupee touched the mark of 87.58 against the USD.
