Rupee Off Highs On State-Run Banks’ Dollar Demand

Rupee Off Highs On State-Run Banks’ Dollar Demand

03 Jul 2019 01:30 PM
 
Financial Market Overview 3rd July, 2019 Afternoon Update Indian Rupee The Indian rupee came off early highs against the dollar in afternoon trade as state-run lenders stepped up greenback purchases, trimming gains triggered by an overnight drop in crude oil prices. The rupee changed hands at 68.88 to a dollar against 68.93 at previous close. The local unit opened at 68.85, and rose to the day’s high of 68.80, its highest since Apr. 4, but later declined to the day’s low of 68.9150, on suspected presence of Reserve Bank of India likely on the dollar purchase side.

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