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Rupee ends at 64

Rupee ends at 64.38 ahead of RBI policy outcome

Tue Dec 05 2017

 

The rupee struggled to hold on to early strong gains and eventually ended the day almost flat at 64.38 against the US dollar amid a caution ahead of the RBI policy decision.

 

The Indian currency soared to a fresh 3-month peak of 64.21 in early trade before retreating sharply.

 

The Reserve Bank’s two-day monetary policy review kicked off today, though the apex bank is widely expected to keep policy rates unchanged.

 

In early trade, the rupee resumed higher at 64.30 from overnight close of 64.37 at the Interbank Foreign Exchange (forex) market on fresh dollar unwinding by exporters.

 

It strengthened further ground to hit a new 3-month high of 64.21 in mid-morning deals before reversing most of the intra-day gains.

 

Later, the home unit took a steep slide to touch a low of 64.46, but eventually managed to pull back towards the fag-end trade at settled almost flat with a mere loss of 1 paisa at 64.38.

 

Source: Hindu business line.

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