Rupee Ends Higher On Strong Shares, Poll Outcome

Rupee Ends Higher On Strong Shares, Poll Outcome

24 May 2019 05:42 PM
 
Financial Market Overview 24th May, 2019 Evening Coffee MARKETS AT CLOSE                                     Indian Rupee The Indian rupee recorded its first weekly rise in three weeks against the dollar, as investors’ demand for local assets increased in run-up to Prime Minister Narendra Modi-led alliance’s massive win in national elections for a second time. The rupee ended at 69.53 to a dollar in Mumbai, its highest since May 7, against 70.01 at the previous close. The local unit opened at 69.75, before rising to day’s high of 69.49 amid likely inflows into local assets. The rupee gained nearly 1%, against last week’s 0.4% depreciation and the biggest single-session rise against the dollar since March18.

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