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Rupee strengthens to 73

Rupee strengthens to 73.88 on dollar selling

Tue Oct 09 2018


The rupee strengthened by 18 paise to 73.88 against the US dollar Tuesday on fresh dollar selling of the American currency by banks and exporters.


According to forex dealers, dollar’s weakness, easing crude oil prices and a strong domestic stock market supported the rupee. The rupee sentiment was also boosted as the International Monetary Fund has forecast India’s growth rate at 7.3 per cent for 2018 and that of 7.4 per cent for 2019.


The rupee had slumped 30 paise to a fresh lifetime low of 74.06 against the US dollar. Meanwhile, the benchmark Sensex rose 72.04 points, or 0.21 per cent, to 34,546.42 in early trade.



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