Rudra Investment Profitable Commodity Tips Expert Says That On Tuesday, the rupee was stronger than the dollar. In the opening trading, it was trading at 70.85 with the strength of 6 paise. The rupee got support from the dollar selling of banks and exporters.
The rupee opened at 70.95 against the dollar on Tuesday. The rupee closed at 70.91 on Friday. Foreign exchange markets are closed on Monday due to the holiday on the occasion of Mahashivaratri.
Rudra Investment Financial Services has said in its report, "Today, the dollar and rupee regulation rates are expected to be in the range of 70.70 and 71.40.
According To Profitable Commodity Tips Compared to the other major heads of the world, the dollar is hovering closer to the height of two weeks than its major competitors. There are two reasons for the strengthening of the dollar. The first is that in the fourth quarter in the US, economic data has been better. Secondly, before the European Central Bank (ECB) policy meeting, the euro has declined.
Dollar of US bond yielded stronger. The traders bet on the dollar against other currencies. Before the meeting of the ECB that will be held on Thursday, the Eurozone has remained volatile. The ECB is struggling to save the euro zone's economy from recession.
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