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Rupee rises 21 paise to 69.70 vs USD

Tue June 18 2019

 

 

The rupee on Tuesday appreciated by 21 paise to close at 69.70 against the US dollar as easing crude prices and a weak dollar ahead of the US central bank’s meeting helped the currency snap its three-day losing streak.

 

Forex dealers said the selling of the American currency by exporters and gain in other Asian currencies also supported the rupee.

 

The US dollar fell against its major rivals before the US Federal Reserve’s meeting amid expectations that the central bank may signal a rate cut. The dollar index dropped 0.1 per cent to 97.43 Tuesday.

 

At the interbank foreign exchange market, the rupee opened at 69.82 per dollar and advanced to a high of 69.63 during the day. It finally settled at 69.70, up 21 paise over its last close

 

Source: https://www.thehindubusinessline.com

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