{"id":107198,"date":"2018-12-21T12:40:37","date_gmt":"2018-12-21T12:40:37","guid":{"rendered":"https:\/\/www.bnreport.com\/rupee-opens-6-paise-up-at-69-94-against-dollar\/"},"modified":"2018-12-21T12:40:37","modified_gmt":"2018-12-21T12:40:37","slug":"rupee-opens-6-paise-up-at-69-94-against-dollar","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/rupee-opens-6-paise-up-at-69-94-against-dollar\/","title":{"rendered":"Rupee opens 6 paise up at 69.94 against dollar"},"content":{"rendered":"

The rupee<\/a> on Friday opened 6 paise higher at 69.94 against the greenback on account of some selling in American currency by banks and exporters amid softening crude oil<\/a> prices.<\/p>\n

The local currency appreciated by 69 paise to close at 69.70 against the US dollar<\/a> on Thursday after the US Fed hiked the interest rate but lowered its projection for future hikes.<\/p>\n

According to ICICIdirect, the rupee ended sharply on Thursday against the dollar on the back of a decline in crude oil prices as well as profit booking in dollar longs supported emerging market currencies including rupee. The dollar witnessed profit booking as major currencies staged a rebound supported by a relatively hawkish Fed policy meeting. A decline in US yields and lower oil prices could weigh on the dollar.<\/p>\n

Crude oil prices declined over 4 per cent on Thursday, hitting their lowest in more than a year on worries about oversupply and the outlook for energy demand as a US interest rate rise knocked stock markets.<\/p>\n

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Original Article<\/a>
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ET Markets<\/a><\/h5>\n

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