Rupee climbs 5 paise to 68.61 against dollar
Steady selling of the greenback by exporters and banks gave the local unit strength.
By ETMarkets.com |
NEW DELHI: The rupee on Friday made a quiet start, up 5 paise, at 68.61 against the dollar.
Steady selling of the greenback by exporters and banks gave the local unit strength for the third day. The local currency's previous close was 68.66.
There was enthusiasm as currency traders took comfort from the fact that US President Donald Trump secured concessions from the European Union to avert a transatlantic trade war.
The dollar on Thursday slipped to a two-week low against a basket of major currencies on easing trade tensions between the US and the European Union.
Foreign portfolio investors sold shares worth Rs 467.15 crore on Thursday with gross purchases and gross sales at Rs 4,051.86 crore and Rs 4,519.01 crore, respectively, NSDL data showed.
On the domestic front, according to Motilal Oswal Financial Services, focus will now shift to the RBI policy meeting scheduled next week. There are expectations that the central bank could hold rates, but any hawkish comments from the governor would be slightly supportive for the currency.
Today, the dollar-rupee pair is expected to quote in the range of 68.80 and 69.20.
Steady selling of the greenback by exporters and banks gave the local unit strength for the third day. The local currency's previous close was 68.66.
There was enthusiasm as currency traders took comfort from the fact that US President Donald Trump secured concessions from the European Union to avert a transatlantic trade war.
The dollar on Thursday slipped to a two-week low against a basket of major currencies on easing trade tensions between the US and the European Union.
Foreign portfolio investors sold shares worth Rs 467.15 crore on Thursday with gross purchases and gross sales at Rs 4,051.86 crore and Rs 4,519.01 crore, respectively, NSDL data showed.
On the domestic front, according to Motilal Oswal Financial Services, focus will now shift to the RBI policy meeting scheduled next week. There are expectations that the central bank could hold rates, but any hawkish comments from the governor would be slightly supportive for the currency.
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Today, the dollar-rupee pair is expected to quote in the range of 68.80 and 69.20.
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