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Last Updated : Jul 19, 2019 09:38 AM IST | Source: Moneycontrol.com

Rupee opens strong at 68.75 vs USD on hopes of Fed rate cut

Federal Reserve will hold meeting for interest rate decision on July 30-31.

Moneycontrol News @moneycontrolcom

The Indian rupee opened strong at 68.75 against the US dollar, rising 22 paise on July 19 in hopes of more easing from Federal Reserve.

The currency closed at 68.97 a dollar on July 18, falling 15 paise amid heavy selling in domestic equities and rising crude oil prices.

New York Fed President John Williams said on July 18 that policymakers need to add stimulus early to deal with too-low inflation when interest rates are near zero and cannot wait for economic disaster to unfold.

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Federal Reserve will hold a meeting for interest rate decision on July 30-31.

Indian markets also traded higher in the morning with the BSE Sensex rising 97.45 points to 38,994.91 and the Nifty50 climbing 26.10 points to 11,623, tracking strong trade in other Asian markets.

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First Published on Jul 19, 2019 09:38 am
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