The Indian rupee rose against the dollar, as local shares strengthened ahead of the general election’s

The Indian rupee rose against the dollar, as local shares strengthened ahead of the general election’s

22 May 2019 05:39 PM
 
The Indian rupee rose against the dollar, as local shares strengthened ahead of the general election’s outcome tomorrow, where Prime Minister Narendra Modi is expected to come back to power. The rupee ended at 69.66 to a dollar in Mumbai, against 69.71 at the previous close. It opened at 69.67 and has traded in a 69.62- 69.81 band for the day. Most other Asian currencies ended lower against the dollar. Rupee saw a brief fall intraday due to dollar bids, likely from state-run lenders on behalf of importers, but overall traders kept positions light for the day. Gain in shares shows that participants hope for NDA’s win.

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