Rupee Gains 17 Paise Against US Dollar As Sensex Cheers 400 Points

The Indian rupee gained as much as 17 paise against the US dollar on Thursday as the benchmark Sensex rallied more than 400 points dismissing the threats of another possible trade war between the US and China with investors keenly awaiting the RBI’s repo rate decision. The rupee got appreciated by 17 paise to 64.98 apiece US dollar at the interbank foreign exchange market on Thursday. In the last one month of trade in the forex markets, the domestic currency had shuttled between the range of 64.8 and 65.3 against the United States dollar.
The Reserve Bank of India had fixed a reference rate of 65.0232 against the US dollar on Wednesday. Earlier yesterday, the rupee tumbled as much as 14 paise to 65.15 against the US dollar on China’s move to impose additional tariffs in a retaliatory measure against the Trump administration. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774