Rupee breaks 2-day fall on budget eve; focus on FOMC outcome
The rupee finally broke out of its two-day consolidative trading range and managed to end higher by 2 paise at 63.58 against the US dollar ahead of the Union Budget. A broadly weaker greenback overseas along with sliding crude also provided a much needed support to the rupee. But, a caution ahead of release of macro-economic data — core sector growth and revised GDP data — kept the sentiment in check and saw the domestic currency falling to fresh one-week low of 63.75 in early trade before the recovery. Dollar…
Read More