Forex

Re trades at 71.24 to the dollar in afternoon session

BL Internet Desk | Updated on November 08, 2019 Published on November 08, 2019

With interest rates going down globally and rupee fairly stable, external commercial borrowings are cheaper than domestic debt

The rupee was trading at 71.2450 to the dollar in the afternoon session on Friday.

It opened the day at 71.2600, 28 paise lower on Thursday's close at 70.9700, after rating agency Moody's cut India's rating outlook from stable to negative.

In intra-day trade, the domestic unit hit a high of 71.16 and a low of 71.3350.

Published on November 08, 2019
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