Sunday , March 26 2023

Rupee jumps by 50 Paise up to 72.50 per dollar


Rupee Jump by 50 Paise Closed at 72.50 against Dollar: 10 Things to Know

The rupee has rebounded by 12 paise to end at 73 dollars per US dollar on Tuesday

The rupee appreciated by 50 paise against the dollar to close at 72.50 on Friday. Analysts said the exporters supported the rupiah selling dollars. The dollar remained weak as a result of the US midterm elections after the Federal Reserve kept interest rates unchanged but announced the upcoming month. Meanwhile, crude oil prices continued to decline for the 10th consecutive month, the lowest in seven months. The rupee, which rose 0.7 percent on Friday, reversed most of the losses registered during the holiday shortening.

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