Forex

Rupee up 33 paise versus dollar

PTI | | Updated on: Aug 20, 2018
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The Indian rupee made a strong comeback on Monday from its life-time low and ended with a stellar 33 paise gain at 69.82 on heavy dollar unwinding and a robust rally in domesticequities. This is the biggest one-day vault against the American currency in seven weeks.

Staging a smart recovery, the rupee opened with a gap up at 69.83 against last Thursday’s close of 70.15 at the inter-bank foreign exchange (forex) market. The fresh breakout pushed the rupee to hit a session’s high of 69.59 as foreign banks sold the greenback.

A strong rally in local equities further added momentum. After revisiting a high of 69.59, the local unit finally ended the day at 69.82, revealing a sharp rise of 33 paise, or 0.47 per cent

Published on August 20, 2018

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