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Rupee recovers 7 paise to end at 70

Rupee recovers 7 paise to end at 70.44

Tue May 14 2019

 

 

The rupee on Tuesday recovered 7 paise to close at 70.44 to the US dollar on the back of gains in equity markets while US-China trade-related concerns and rising crude oil prices continued to weigh on investor sentiment.

 

At the interbank foreign exchange market, the rupee opened strong at 70.43 against the US currency. During the day, the local unit moved in a range of 70.51 to 70.30.

 

 The domestic currency finally ended at 70.44, up 7 paise against its previous close. The rupee had slid to a two-and-a-half-month-low of 70.51 on Monday on heavy forex outflows.

 

Source: Hindu business line.

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