Moneycontrol
Last Updated : Oct 11, 2018 04:37 PM IST | Source: Moneycontrol.com

Indian rupee turns positive after hitting fresh record low of 74.48/USD

Yesterday rupee ended 18 paise higher at 74.20 per dollar, registered a gain after six consecutive session fall.

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After hitting a fresh record low of 74.48 the Indian rupee is trading marginally higher at 74.13 per dollar against previous close of 74.20.

It opened lower by 10 paise at 74.30 per dollar. Yesterday rupee ended higher, registered a gain after six consecutive session fall.

India's battered rupee is expected to stay that way for a while, trading near recent record lows over the coming year even as the Reserve Bank of India is forecast to raise rates in December and once more in 2019, Reuters polling found.

The rupee has hit repeated record lows against the dollar this year in its worst run since the financial crisis. It is down over 16 percent so far this year, tracking a deep selloff in emerging markets driven by a resurgent dollar and the ongoing U.S.-China trade war.

 
First Published on Oct 11, 2018 03:55 pm

tags #Rupee

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