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Rupee jumps to 67

Rupee jumps to 67.40 as dollar weakens ahead of key central bank meetings

Mon June 11 2018

 

The rupee rose 10 paise against the US dollar to 67.40 in early trade owing to dollar’s weakness against other currencies overseas ahead of key central bank policy meetings and the US-North Korea summit this week.

 

Besides, selling of the American currency by exporters and banks and a firm domestic equity market influenced the rupee uptrend, forex dealers said.

 

On Friday, the rupee had plunged by 38 paise or 0.57 per cent to close at a fresh one-week low of 67.50 against the US currency amid worries over rising global crude prices and capital outflows. Meanwhile, the benchmark BSE Sensex rebounded by 148.70 points, or 0.41 per cent, at 35,592.37 in early trade.

 

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

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