Indian Rupee Climbs To 5-day High Against U.S. Dollar
March 21 2017 - 1:16AM
RTTF2
The Indian rupee traded higher against the U.S. dollar in
afternoon deals on Tuesday, as the latter weakened across the board
after Fed comments backing a gradual pace of rate hike this
year.
On Monday, Chicago Federal Reserve president Charles Evans
backed two more interest rate hikes this year, reinforcing recent
comments from Fed Chair Janet Yellen that further rate increases
would only be "gradual."
The rupee climbed to a 5-day high of 65.20 against the
greenback, compared to yesterday's closing value of 65.25. The next
possible resistance for the rupee is seen around the 64.00
region.
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