New Delhi, Oct 31 (SocialNews.XYZ) The rupee on Monday touched a high of 83.01 against the US dollar ahead of the key Federal Reserve Bank meeting this week.
The rupee opened at 82.57 but touched a high of 83.01 during intraday trade. It eventually closed at 82.74.
There are expectations of another rate hike by the US Federal Reserve when it meets on Wednesday (November 2).
Analysts are hoping that US Federal Reserve chairman Jerome Powell may be less hawkish while reviewing key rates.
Traders are also awaiting the manufacturing PMI and trade deficit data, which is expected to be released on Tuesday as it may significantly impact the rupee movement.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
