Rupee Opens Higher As Dollar Index Slides To Three-Month Low

Rupee Opens Higher As Dollar Index Slides To Three-Month Low

25 Jun 2019 09:12 AM
 
USD/INR – The Indian rupee opened higher against the U.S. currency, helped by the dollar index’s fall to fresh three-month lows. The rupee opened at 69.32 to a dollar compared with its previous close of 69.35. The dollar index edged lower in Asia trading on Tuesday, headed for the sixth day of losses. The gauge has now lost about 1.7% after the Federal Reserve indicated that it was prepared to cut the federal funds rate to support economic growth. U.S. President Donald Trump and Chinese President Xi Jinping will be meeting at the G20 summit in Japan, which runs from this Friday to Saturday. Meanwhile, Brent crude futures retreated from three-week highs. The U.S. imposed new sanctions on Iran on Monday, targeting the country’s Supreme Leader Ayatollah Ali Khamenei and other top officials.

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