Comments
The rupee, on Monday, settled 8 paise higher at 71.66 against the US dollar amid participants hoping the RBI will go in for another rate cut in the ensuing RBI policy review meet this week. Forex traders said the domestic currency opened weak as investors traded cautiously after India’s Q2 GDP growth dipped to an over six-year-low of 4.5 per cent, but during the day, the local unit gathered strength anticipating further easing in key rates to boost the slowing economy.
At the interbank foreign exchange, the rupee opened weak at 71.78 a dollar, but soon gathered strength to touch a high of 71.62 before finally settling at 71.66, up 8 paise over its last closing.
The rupee had closed at 71.74 against the US dollar on Friday.
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.