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Rupee jumps by 30 paise to 68

Rupee jumps by 30 paise to 68.57

Mon July 09 2018

 

The rupee appreciated by 30 paise to 68.57 against the US dollar on increased selling of the greenback by exporters and banks.

 

According to forex dealers, a strong domestic equity market and the dollar’s weakness against some currencies overseas after US jobs data showed slower-than-expected wages growth also supported the rupee.

 

The domestic unit opened strong by 29 paise at 68.58 at the interbank forex market today. It hovered in a range of 68.78 and 68.57 before ending at 68.70, up 17 paise at 5 pm local time.

 

On Friday, the rupee had ended strong by 8 paise at 68.87, in line with key Asian units and a weak dollar overseas. Meanwhile, the benchmark BSE Sensex ended at 5-month closing high of 35,934.72, up 276.86 points or 0.78 per cent.

 

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

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