For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee Seen Highly Volatile After Cabinet Portfolio Allocation

|

In forex market soon after the key portfolios were allocated to the Modi 2 government, there was seen a high volatility. While the rupee opened with gains today at 69.72 per US dollar on crude-price cut to 3-month low levels and other macros, all of the early gains were seen pared and rupee last traded at 69.85, a steep fall of 13 paise versus its today's opening level and 2 paise over its last close.

Rupee Seen Highly Volatile After Cabinet Portfolio Allocation
 

Rupee for earlier three-session has been on a losing streak due to gains in dollar on the back of rise in demand for dollar.

Modi's aide Amit Shah has been handed over the home ministry, Piyush Goyal has retained the Railways minister, Sitharaman now holds the finance ministry. On Thursday, Modi has been sworn in as the PM for the second term.

complete list of Modi 2 Cabinet portfolio allocation

Also, the stock indices after the announcement have been trading lower, with both Nifty and Sensex declining. Early in opening trade, Sensex reclaimed 40,000 levels.

GoodReturns.in

Read more about: rupee modi gdp
Story first published: Friday, May 31, 2019, 14:44 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more