The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

    Rupee opens 17 paise higher at 68.52 against US dollar

    Synopsis

    The local currency on Friday depreciated 25 paise to close at 68.69 against the greenback.

    Getty Images
    The dollar was weighed down against its major crosses in Friday’s session but a muted economic calendar could keep the volatility low for the dollar.

    Related Companies

    NSE
    BSE

    PEER COMPANIES

    The rupee on Monday gained 17 paise to open at 68.52 against the US dollar despite disappointing macroeconomic data numbers released on Friday.

    Factory output growth based on Index of Industrial Production (IIP) slipped to 3.1 per cent in May as against 4.3 per cent in the previous month, mainly on account of subdued performance of mining and manufacturing sectors.

    Rising for the sixth month in a row, retail inflation climbed to 3.18 per cent in June though remaining well within the RBI’s comfort zone, leaving scope for a rate cut by the central bank to boost industrial production which has yet to gain traction.

    The local currency on Friday depreciated 25 paise to close at 68.69 against the greenback.

    Brokerage firm Motilal Oswal Financial Services said, “Today, USDINR pair is expected to quote in the range of 68.30 and 68.90.”

    The dollar was weighed down against its major crosses in Friday’s session but a muted economic calendar could keep the volatility low for the dollar. From the US, market participants will be keeping an eye on retail sales number and weaker-than-expected data could keep the gains capped for the dollar.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Also Read

    1 Comment on this Story

    Amol Dighe386 days ago
    Yesterday Motilal Oswal Calls put me on backward.
    The Economic Times