Forex

Rupee gains 9 paise to 73.24 ahead of RBI policy review

PTI Mumbai | Updated on October 08, 2020

The rupee strengthened by 9 paise to close at 73.24 against the US dollar on Thursday, supported by positive domestic equities and weak American currency.

At the interbank forex market, the rupee traded in a narrow range. It opened at 73.29 against the American currency and gained further ground to settle at 73.24, up 9 paise from its previous close of 73.33.

This is the second consecutive session of gain for the rupee.

Traders said investors are cautious ahead of the RBI Monetary Policy Committee (MPC) decision on Friday.

The newly-constituted MPC of the Reserve Bank began its three-day deliberations on Wednesday. The decision of the rate-setting panel will be announced on October 9.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 93.57.

 

Published on October 08, 2020

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