Comments
The Indian rupee on Friday appreciated by 25 paise to end at 71.33 against the US dollar on Friday after the Economic Survey 2019-20 predicted bullish growth figures for the next financial year.
Forex traders said market participants are now awaiting cues from the Union Budget. The are also assessing the economic implications of the coronavirus outbreak.
The Economic Survey 2019-20 tabled in Parliament on Friday pegged GDP growth at 6-6.5 per cent in fiscal year starting April 1, up from 5 per cent in current fiscal.
At the interbank foreign exchange market, the local currency opened at 71.46. During the day, the local unit saw a high of 71.28 and a low of 71.52. The domestic unit finally settled at 71.33, up 25 paise from its previous close.
The rupee had settled at 71.58 against the American currency on Thursday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.