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Bloomberg Quint

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Image Credit: Bloomberg Quint

Rupee Ends Stronger As Dollar Wavers, Oil Prices Cool

  • The Indian rupee appreciated by 21 paise on Friday as lower oil prices and fears over the damage due to President Donald Trump's tariff policy to the US economy pressured the dollar.
  • The local unit closed at 85.23 against the greenback. The rupee witnessed its biggest intraday gain against the dollar since March 24.
  • For the truncated week, the rupee strengthened by 23 paise or 0.27%.
  • Lower crude prices bodes well for the rupee as India is a large importer.

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