Rupee ends higher against the dollar compared to previous close

Rupee ends higher against the dollar compared to previous close

11 Sep 2019 05:58 PM
 

The Indian rupee ended higher against the dollar on greenback sales by foreign banks, likely for corporate clients and rise in local shares for a third straight session.

The rupee ended at 71.65 to a dollar, its highest since Aug. 30, against 71.70 at previous close. It opened lower at 71.84 and fell to the day's low of 71.86, before rising to the day's high of 71.60.

The broad market expects a revival package in the ECB's policy decision tomorrow, including a rate cut.

Apart from the ECB decision, traders will also closely watch U.S. retail inflation data and retail sales numbers this week, as this will help gauge the health of the world’s largest economy ahead of its interest rate decision. The Fed is expected to cut rates once again by a quarter-percentage point.

The one-year dollar-rupee forward premium was at 3.10 rupees, against 3.07 rupees at previous close.