Rupee firms up 11 paise against dollar

PTI Mumbai | Updated on November 01, 2019

The rupee appreciated by 11 paise to close at 70.81 against the US dollar on Friday due to fag-end selling of the greenback by banks and importers amid persistent foreign fund inflows. Strengthening crude oil prices, however, capped the gains for the domestic unit, forex dealers said.

At the interbank foreign exchange market, the rupee opened weak at 70.96 and touched a low of 70.98 in early trade. However, late selling of dollars by banks helped the rupee recoup its losses. It finally finished at 70.81 against the US currency, showing a rise of 11 paise over its previous close. On a weekly basis, the rupee fell 9 paise against the greenback. The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.11 per cent to 97.24.

Published on November 01, 2019

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