Rupee falls 9 paise vs dollar

PTI Mumbai | Updated on August 09, 2019 Published on August 09, 2019

A positive opening in the domestic equity market, easing crude oil prices and reports of a meeting between foreign investors and Finance Ministry officials on issues like higher tax surcharge, supported the domestic unit.

The rupee declined by 9 paise to close at 70.78 against the dollar on Friday, as market participants were cautious ahead of a meeting between foreign investors and finance ministry officials regarding higher tax surcharge.

At the interbank foreign exchange, the rupee witnessed high volatility. After opening on a strong note at 70.54, the local unit touched a high of 70.44 and a low of 70.82 against the American currency.

The domestic unit finally settled down 9 paise at 70.78 against the American currency against Thursday's close of 70.69.

Brent crude futures, the global oil benchmark, climbed 1.43 per cent to$58.20 per barrel. The 10-year government bond yield was at 6.50 per cent on Friday




Published on August 09, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.