Forex

Rupee gains 38 paise to close at 2-week high against dollar

PTI Mumbai | Updated on August 30, 2019

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The rupee appreciated by 38 paise to close at a two-week high of 71.42 against the US dollar on Friday led by a rally in domestic equities and renewed hopes of the US-China trade talks.

At the interbank foreign exchange, the rupee opened up at 71.76 and gained further strength to touch a high of 71.38 against the US dollar.

The domestic currency finally settled with a gain of 38 paise at 71.42, a level not seen since August 16.

On Thursday, the rupee had closed at 71.80 against the US currency.

The rupee sentiment revived as concerns over US-China trade friction receded after China said it will not retaliate against the latest US tariffs, dealers said.

 

 

Published on August 30, 2019

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