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Rupee edges up 2 paise against US dollar as investors turn cautious

Rupee edges up 2 paise against US dollar as investors turn cautious

Tue May 21 2019

 

 

The rupee climbed a marginal 2 paise to close at 69.72 against the US dollar in lacklustre trade, as participants preferred to sit on the fence ahead of general election results. A strengthening US dollar in overseas markets, weak domestic equity markets, and surging crude prices weighed on the trading sentiment.

 

The rupee opened slightly lower at 69.75 and fell further to touch the day’s low of 69.81, in line with the weak equity markets. Backed by foreign fund inflows, the local currency made a recovery later to touch the day’s high of 69.66 before settling at 69.72, registering a rise of 2 paise over its previous close.

 

Source: https://www.thehindubusinessline.com/

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