Comments
Extending its winning run for the fifth straight session, the rupee on Tuesday climbed eight paise to hit a one-month high of 67.87 against the US currency on sustained selling of the dollar by exporters and banks ahead of the Union Budget.
Expectations of an economically balanced Budget that sticks to the government’s fiscal consolidation path, which would, in turn, provide the RBI room to cut key rates, along with robust capital inflows propped up the local unit, despite a massive sell-off in equities.
Extreme dollar volatility in overseas markets in the midst of President Donald Trump’s protectionist policies also supported the trading sentiment.
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.