Rupee Rises 2 Paise to 82.61 Against US Dollar

Rupee Rises Paise Against US Dollar

The news “Rupee rises 2 paise to 82.61 against US dollar” indicates that the Indian rupee has appreciated against the US dollar.

• Rupee: The Indian rupee (INR) is the official currency of India.
• 2 paise: A “paise” is a subunit of the Indian rupee. There are 100 paise in 1 rupee. An appreciation of 2 paise means that the value of 1 rupee has increased by 2 paise against the US dollar.
• 61 against the US dollar: This figure (82.61) represents the exchange rate between the Indian rupee (INR) and the US dollar (USD). It means that 1 US dollar equals 82.61 Indian rupees in this particular instance.

Overall, it indicates that the value of the Indian rupee has strengthened slightly against the US dollar, as it takes fewer rupees to purchase 1 US dollar compared to the previous exchange rate. Exchange rates can fluctuate due to various economic factors, including interest rates, inflation, trade balances, and geopolitical events.

To read more: https://indianexpress.com/article/business/economy/rupee-rises-paise-against-us-dollar-8914379/