Rupee Logs Best Day In 2 Months On Exit Poll Outcome

Rupee Logs Best Day In 2 Months On Exit Poll Outcome

20 May 2019 05:39 PM
 
The Indian rupee recorded its biggest single-session rise against the dollar in two months, as most exit polls predicted a second term for Prime Minister Narendra Modi-led alliance, which lifted demand for local assets amid hopes of policy continuity. The rupee settled at 69.7350 to a dollar, its highest since May 8, and against 70.22 at previous close. It surged 0.7%, posting its highest percentage gain in a single day since Mar 18. The unit rose to day’s high of 69.35 to dollar, before touching the intra-day low of 69.76 on importers’ greenback demand, while some foreign banks booked profits

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