Rupee Gains Sharply To Return To 73 Levels Against Dollar

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The rupee gained by 55 paise against the US dollar to close at 73.57 on Friday. That marked the biggest single-day jump in the rupee in more than three weeks. Friday’s sharp upmove in the rupee came on the back of weakness in crude oil prices, and ahead of release of key macroeconomic data by the government. The rupee touched an intraday high of 73.52 against the greenback during the session, before settling at 73.57 for the day. The rupee registered a weekly gain of 19 paise against the American currency.

Stock markets bounced back to register their biggest single-day gain since late May 2016. The 30-share Sensex gained a 2.2 per cent and the broader Nifty 2.3 per cent, a day after they registered a decline of 2.2 per cent triggered by a global selloff. 

(With agency inputs)

Source: NDTV Profit