INSUBCONTINENT EXCLUSIVE:
INR Vs USD: The rupee traded in the range of 69.86-69.60 against the greenback.The rupee on Monday gained 33 paise from its life-time
closing low of 79.15 to close at 69.82 against the US dollar
The rupee traded in the range of 69.86-69.60 against the greenback, before finishing the session 33 paise higher
At 33 paise, Monday's gain marked the biggest one-day jump registered by the rupee against the American currency in seven weeks
The strong recovery for the rupee came on the back of heavy dollar unwinding and a robust rally in domestic equities, news agency Press
The dollar index, which tracks the greenback against a basket of currencies, fell 0.01 per cent."The rupee has appreciated today as the US
dollar index has witnessed profit booking," Anand Rathi Shares and Stock Brokers' Research Analyst Rushabh Maru told news agency Indo-Asian
"There is an optimism in the market that US and China would find a solution for ongoing trade conflict
So that has also supported the rupee," he said
Market sentiment globally showed signs of improvement against the backdrop of the upcoming visit of Chinese delegates to the US in order to
re-engage in trade talks.3
four-year high of 5.77 per cent logged in the previous month.4
The rupee had crashed to a historic low of 70.40 before closing at a life-time low of 70.15 against the dollar in the wake of Turkey's
currency crisis last week
Advances in metal, infrastructure and auto stocks pushed the markets higher amid gains in other Asian peers.Meanwhile, the country's forex
reserves plunged to a low of $400.88 billion in the week to August 10, losing a whopping $1.822 billion, according to the latest to Reserve
crude oil prices and better corporate earnings
