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Rupee settles 8 paise higher at 68.42/dollar on Budget day

Fri July 05 2019

 

The rupee pared early losses on Friday to settle 8 paise higher at 68.42 against the US dollar as market participants said fiscal deficit and gross borrowings announced in the budget were broadly in-line with expectations.

 

 In a volatile session at the interbank foreign exchange, the local unit opened at 68.55 per dollar, but soon recovered lost ground and touched a high of 68.40, as Finance Minster Nirmala Sitharaman presented her maiden budget in Parliament.

 

 The domestic currency finally ended at 68.42 against the greenback, higher by 8 paise over its previous closing.

 

 The rupee on Thursday settled at 68.50 against the US dollar.  On a weekly basis, the Indian currency has gained 61 paise.

 

Source: Hindu business line.

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