Before the counting of votes, Rupa also saluted by saying 'Jai ho sir'.

Rupee: In the exit poll, it also beat the dollar in the interbank foreign exchange market, with stocks rising more than three percent on the cheers of BJP-led National Democratic Alliance (NDA) hopes. The government said 'Jai Ho Sir' for the third time in front of 28 paise before the counting of votes. According to media reports, the rupee gained 28 paise to 83.14 against the US dollar on Monday. This is the rupee's highest in two months. Positive factors such as strong domestic economic data, inflows of foreign capital and some weakness in the US currency played a role behind this major advance in the local currency. According to forex traders, lower crude oil prices supported the Indian currency after the OPEC Plus decision to keep oil production steady. In the interbank foreign exchange market, the rupee opened strongly at 83.09 and fluctuated between a high of 82.95 and a low of 83.17 during the day. At the close of trade, the rupee closed at 83.14 (provisional) against the US dollar. This is up 28 paise from the previous close. On Friday, the last trading day, the rupee depreciated by 13 paise to 83.42 per dollar. Earlier, the rupee strengthened in the stock market and on March 21 this year, the rupee stood at 83.13 against the dollar. It crossed the 83 per dollar level on March 18. Apart from this, the local currency on Monday recorded its highest one-day increase since November 15, 2023. At that time the value of the rupee was 24 paisa to the dollar. Anuj Chowdhury, research analyst at BNP Paribas' Sher Khan, said domestic markets were overbought after exit polls showed the possibility of forming a BJP-led government for a third consecutive term. Due to this rise, the Indian rupee strengthened: HDFC Bank debit-credit card not working on June 4-6 and ended at a high of 76,468.78 points. The NSE Nifty also rose 733.20 points, or 3.25 percent, to end at a new high of 22,263.90 points. Apart from this, strong macroeconomic data also supported the rupee, Chaudhry said. However, disappointing PMI data for the manufacturing sector capped sharp gains. Meanwhile, the dollar index, which measures the dollar's strength against six major world currencies, rose 0.06 percent to 104.68. Also Read: Sensex-Nifty Trebles Up, Stocks Buoyed by PM Modi's Assurances The post Rupee appreciates ahead of vote counting – 'Jai Ho Sir' appeared first on Prabhat Khabar.