Rupee recovers but trades 60 paise lower at 71.52 per dollar
Indian rupee has recovered from the low point of the day but trading lower by paise at 71.52 per dollar, down 60 paise from the previous close.
Rupee opened lower by 70 paise at 71.62 per dollar versus Friday’s close 70.92.
Also Read – Rupee at 1-month high, likely to trade in the range of 70.80-71.60 levels
The rupee marched higher for the seventh straight session on Friday to close at 70.92 per US dollar, up 22 paise, as softening crude oil prices and easing US-China trade tensions bolstered investor sentiment, said PTI.
Most Asian currencies gained following signs of rapprochement between US and China over their trade dispute, it added.
The Indian currency has appreciated by 147 paise in the last seven trading sessions.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.