On Friday, the rupee strengthened its position against the dollar and closed at 85.38 with a strength of 34 paise after a three -day fall. It was supported by the central bank’s dollar sales. The previous closed price of the rupee was 85.72. Dealers say the rupee fell to 85.87 against the dollar in early trade, but the dollar selling by the Reserve Bank by public sector banks saw a boom at the end of the day.
In a government -owned bank, the dealer said, ‘RBI intervened at 85.85 after weakness in morning business. The major decline in the rupee came due to the news of the war between India and Pakistan. If a weekend is not a major event, then next week we can see the rupee opening firmly.
On Thursday, the domestic currency was seen to have the biggest decline in more than two years, which ended all its growth for both the current calendar year and the financial year. But it rose on Friday and it gained 0.27 percent against the dollar in the current calendar year and 0.1 percent in the current financial year.
First Published – May 9, 2025 | 10:53 PM IST
Related post
(Tagstotranslate) dollar rupee