Forex

Rupee edges higher by 5 paise to end at 65.12/$  

PTI Mumbai | Updated on March 05, 2018 Published on March 05, 2018

The rupee firmed 9 paise to 65.08 against the dollar in the opening trade.   -  Getty Images/iStockphoto

 

Snapping its three-session downtrend, the rupee today managed to end higher by 5 paise at 65.12 against the US currency on fresh bouts of dollar selling by banks and importers amid growing trade war concerns.

A panic gripped currency and financial markets worldwide after US President Donald Trump revealed his plans impose severe tariffs on imports of steel and aluminium, sparking fears of a potential global trade war.

The rupee resumed higher at 65.10 against Thursday’s close of 65.17 at the inter-bank foreign exchange market (forex) here.

It strengthened further to hit a high of 64.93 in mid morning deals.

However, the local unit succumbed to some dollar pressure in the fag-end trade, relinquishing all early strong gains to end marginally higher at 65.12, showing a gain of 5 paise, or 0.08 per cent.

Published on March 05, 2018
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