Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Forex

The Economic Times
11,047.8018.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Rupee opens 17 paise higher at 68.52 against US dollar

The local currency on Friday depreciated 25 paise to close at 68.69 against the greenback.

ETMarkets.com|
Jul 15, 2019, 09.29 AM IST
0Comments
Getty Images
rupee-2-getty
The dollar was weighed down against its major crosses in Friday’s session but a muted economic calendar could keep the volatility low for the dollar.
The rupee on Monday gained 17 paise to open at 68.52 against the US dollar despite disappointing macroeconomic data numbers released on Friday.

Factory output growth based on Index of Industrial Production (IIP) slipped to 3.1 per cent in May as against 4.3 per cent in the previous month, mainly on account of subdued performance of mining and manufacturing sectors.

Rising for the sixth month in a row, retail inflation climbed to 3.18 per cent in June though remaining well within the RBI’s comfort zone, leaving scope for a rate cut by the central bank to boost industrial production which has yet to gain traction.

The local currency on Friday depreciated 25 paise to close at 68.69 against the greenback.

Brokerage firm Motilal Oswal Financial Services said, “Today, USDINR pair is expected to quote in the range of 68.30 and 68.90.”

The dollar was weighed down against its major crosses in Friday’s session but a muted economic calendar could keep the volatility low for the dollar. From the US, market participants will be keeping an eye on retail sales number and weaker-than-expected data could keep the gains capped for the dollar.
0Comments

Also Read

Is Rupee set to swing wild?

Rupee and bonds steady ahead of Budget

Rupee opens flat at 68.72 against dollar

Will Yuan drive the Rupee?

Rupee opens flat at 68.99 against dollar

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service