The local unit gained after opening flat against the US dollar amid a dip in crude oil prices and fresh foreign fund inflows.
The Indian rupee opened on a flat note on Friday. However, it gained after opening flat against the US dollar amid a dip in crude oil prices and fresh foreign fund inflows. Currently, the domestic unit is trading 4 paise higher at 71.17/$.
On the economy front, the RBI released its MPC meet minutes on Feb 21, 2019. The apex bank, in its final bi-monthly monetary policy review for FY19, decided to cut the repo rate by 25bps to 6.25% and changed its policy stance to "neutral" from calibrated tightening earlier.
The rupee ended lower by 11 paise at 71.24/$ on Thursday as rising oil prices and a strengthening greenback weighed on market sentiment.
Meanwhile, the Sensex gained 13 points to 35,914, while the Nifty was up 3 points at 10,786.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs71.15, while for the Euro, it was at Rs80.62. The RBI’s reference rate for the Yen stood at Rs64.24; the reference rate for Great Britain Pound (GBP) was Rs92.72.
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| CAPITALSTARS FINANCIAL ADVISORY COMPANY |
On the economy front, the RBI released its MPC meet minutes on Feb 21, 2019. The apex bank, in its final bi-monthly monetary policy review for FY19, decided to cut the repo rate by 25bps to 6.25% and changed its policy stance to "neutral" from calibrated tightening earlier.
The rupee ended lower by 11 paise at 71.24/$ on Thursday as rising oil prices and a strengthening greenback weighed on market sentiment.
Meanwhile, the Sensex gained 13 points to 35,914, while the Nifty was up 3 points at 10,786.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs71.15, while for the Euro, it was at Rs80.62. The RBI’s reference rate for the Yen stood at Rs64.24; the reference rate for Great Britain Pound (GBP) was Rs92.72.
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