Categories: Business

Rupee ends 22 paise higher at 75.51 per dollar


rupee vs dollar

new Delhi. The Indian rupee closed 22 paise higher at 75.51 against the US dollar on Tuesday. In the hope of giving stimulus package by the government, the rupee has strengthened. Since the beginning of the opening of economies by many countries of the world, there was a softening of the dollar against major global currencies. Foreign currency dealers said that the increase in the flow of foreign funds and improvement in the domestic stock markets also led to an improvement in the rupee against the dollar.

The rupee started trading at Rs 75.89 per dollar in the inter-bank foreign currency exchange market. It then moved between 75.49 to 75.95 per dollar during trading. Finally, at the end of trading, the Indian currency closed up 22 paise to close at Rs 75.51 against the previous day's closing price of Rs 75.73.

Jatin Trivedi, Senior Research Analyst, Commodity & Currency, LKP Securities, said that the announcement of the stimulus package was expected after the announcement of Prime Minister Narendra Modi's address to the nation at 8 pm.

This post was published on May 12, 2020 11:04 pm

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