Rupee continues to make gains against dollar for 2nd consecutive month

The rupee continued to make gains against the dollar for the second consecutive month as it appreciated by 0.42 per cent in April, after gaining 0.6 per cent in March.

It is also one of the best-performing currencies in April, as it fared better than many developed and emerging market currencies. The Indonesian Rupiah and Brazilian Real are some of the currencies that have performed better than the Indian currency against the dollar.

Rupee, after depreciating 11 per cent in 2022, has seen its fortune swinging in 2023 as it has gained 1.1 per cent against the dollar.