On Monday, April 10, 2023 the Indian rupee appreciated by 5 paise to close at 81.97 (provisional) against the US dollar, following a weak American currency in the global market. At the interbank foreign exchange market, the rupee began trading at 81.90 versus the US currency and ultimately ended at 81.97 (provisional), marking a 5 paise increase from its previous closing.

Throughout the session, the rupee fluctuated between a high of 81.78 and a low of 81.98 against the dollar. In comparison, on Thursday, the rupee finished at 82.02 against the US currency, while on April 7, both equity and forex markets remained closed in observance of Good Friday.

The dollar index, which measures the strength of the greenback against a basket of six currencies, declined 0.02 per cent to 102.06. Meanwhile, global oil benchmark Brent crude futures increased 0.05 per cent to USD 85.16 per barrel.

According to Anuj Choudhary, a research analyst at Sharekhan by BNP Paribas, the rupee was negatively impacted by a below-normal monsoon forecast by Skymet and a strong dollar during early Asian trade. However, the positive performance of domestic equities softened the blow.