By Mihika Sharma 

The Indian rupee strengthened marginally by 0.1% against the dollar in June, closing at 83.39. While factors such as a strong dollar, higher crude oil prices and a depreciating yuan weighed on the rupee, net foreign portfolio inflows offered support.

The dollar index (DXY) strengthened by 1.1% to 105.9 in June, driven by weakness in the Euro (EUR) and Japanese Yen (JPY), even as economic data suggested easing inflationary pressures in the United States.

EUR/USD depreciated by 1.2% due to political uncertainty ahead of France’s elections, while the JPY fell by 2.3% against the dollar to its weakest level in nearly four-decades amidst the Bank of Japan’s gradual approach towards monetary policy normalization.

Rupee to trade between 83.60 – 84.10/$ in near-term says CareEdge Rating MSCI Rejig: HDFC Bank likely to see $1.8 billion inflows, Vodafone Idea, RVNL and 6 other stocks li…