Rupee rises 24 paise to close at 95.75 against US dollar
The rupee appreciated 24 paise to close at 95.75 against the US dollar on Friday, holding above the 96-mark, on improved global risk sentiment and possible intervention by the Reserve Bank.
The rupee appreciated 24 paise to close at 95.75 against the US dollar on Friday, holding above the 96-mark, on improved global risk sentiment and possible intervention by the Reserve Bank.
Forex traders said gains in the rupee were capped by US dollar demand from local importers, high crude prices and a stronger greenback driven by hawkish Federal Reserve signals.
At the interbank foreign exchange market, the rupee opened at 95.92 against the American currency. During the day, the local unit slipped to an intra-day low of 95.94, but recovered lost ground to close at 95.75, a 24 paise rise from its previous close.
