The Indian rupee ended higher against the dollar

The Indian rupee ended higher against the dollar

15 Jul 2019 05:34 PM
 
The Indian rupee ended higher against the dollar on likely foreign fund inflows into local debt and as traders awaited the release of trade numbers for June. The rupee ended at 68.5350 to a dollar, against 68.68 at previous close. However, the local unit opened at 68.54 and for the day traded in a narrow 68.51- 68.6050 paise band, tracking movement in regional assets that remained muted after an initial uptick. This week, around half dozen speakers from Fed including Jerome Powell are scheduled to speak, and it is likely that they would try to tame down market expectations on rate cut more towards 25 bps rate cut instead of a 50 bps one.

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