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Rupee snaps 4-day losing streak; inches up 2 paise to 69

Rupee snaps 4-day losing streak; inches up 2 paise to 69.92 against dollar

Fri May 10 2019

 

 

Snapping its four-session losing run, the rupee ticked higher by 2 paise to finish at 69.92 against the US dollar on Friday.

 

 Forex traders said the domestic unit recovered in the later part of the day amid reports that the US is expected to remove India from its currency manipulation watch list.

 

At the Interbank Foreign Exchange (forex) market, the local unit opened at 70.04. It moved in a range of 70.07 to 69.76 before finally ending at 69.92, up 2 paise over its previous close.

 

 The rupee had settled at 69.94 against the US dollar on Thursday. During the week, the rupee fell by 70 paise

 

Source: Hindu business line.

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