On a high! Rupee ends 14 paise stronger at 67.03 against US Dollar

On a high! Rupee ends 14 paise stronger at 67.03 against US Dollar
India Infoline News Service | Mumbai | May 27, 2016 17:36 IST
The rupee has rallied for fourth consecutive session.The local unit had hit a high of 67.02 and a low of 67.12.
The Indian rupee closed higher on increased selling of the US currency by exporters and banks amid higher foreign inflows. The rupee has rallied for fourth consecutive session. The rupee opened higher on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. The government will release GDP data for the March quarter on Tuesday i.e 31st May.


In Japan, Core CPI inflation contracted by 0.3% during April (yoy basis). Deflationary trend persists in the core component (excluding food and energy), signifying weakness in aggregate demand.

In UK, the government reported that GDP during Q1 grew 0.4% (qoq basis), slower than the growth of 0.6% during the prior quarter. On annualised basis, GDP growth for Q1 has slowed down to 2%, when compared with the reading of 2.1% during Q4 2015.

The Indian currency ended higher by 14 paise at 67.03/$. The local unit had hit a high of 67.02 and a low of 67.12. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.06 and for Euro stood at 75.08. The RBI’s reference rate for the Yen stood at 61.12; reference rate for the Great Britain Pound (GBP) stood at 98.3923.
On a high! Rupee ends 14 paise stronger at 67.03 against US Dollar On a high! Rupee ends 14 paise stronger at 67.03 against US Dollar Reviewed by Ajit Kumar on 8:46 PM Rating: 5

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