In The Last Trading Day of this month Report by Rudra Investment Commodity Market Expert, The rupee gained strength in the last trading day of the week against the dollar. This is due to the dollar selling by banks and importers. Rupee rises by 15 paise to 69.18 against US dollar on Friday.
During the trading session on Thursday, the rupee remained within the limited range. However, in the last hour of the business, the rupee was under heaviness after the demand for dollar increased. Again it was closed with a weak spot of more than 40 paise against the dollar.
Before the GDP figures came in the US on Thursday, dollar weak spot was seen in comparison to other major currencies of the world. Talking about the domestic front, investors now look at the policy meeting of the RBI.
The RBI will review its monetary policy next week. The hope is that the central bank can consider cuts in rates. SEBI Registered Commodity Market Expert said in its report, "The data related to the fiscal deficit will continue today." If we expect poor data from the expectations, we can see pressure on the rupee. "
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