For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee Pares Early Gains; Trades Lower At 69.24

|

The Indian rupee in Friday's trade opened higher at 69.19 per US dollar against its previous close of 69.27.

Rupee Pares Early Gains; Trades Lower At 69.24
 

In yesterday's session after the RBI announced repo rate cut of 25 basis points to a nine-year low of 5.75% and changed its monetary policy stance from 'neutral' to 'accommodative', the currency ended the day almost flat.

For the current fiscal year, the central bank lowered its growth forecast from 7.2% to 7.0%. Also, it has revised its inflation forecast lower to 3-3.1% for the H1FY20 and 3.4-3.7% for the H2FY20.

As per Motilal Oswal, rupee is expected to trade in the range of 69.20 and 69.90 today.

Meanwhile, Indian equities are also trading lower, with Sensex losing 155.78 points or 0.39% to trade at 39373.94, while Nifty trades lower by 35.65 or 0.3% at 11,808.10.

GoodReturns.in

Read more about: rupee dollar oil rbi mpc
Story first published: Friday, June 7, 2019, 10:22 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
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