Rupee appreciates against US dollar amid weakness in American currency
The rupee ended at 85.40 (Provisional), appreciated by 15 paise from its previous close of 85.55 on Thursday
Indian rupee appreciated against the US dollar on Friday tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Traders got support after Moody's Ratings in its outlook on Asia Pacific sovereigns has said that India may be subject to lower tariffs than many countries in the Asia Pacific (APAC), which could help the economy attract further investment and become a global manufacturing base. On the global front, Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday, as European stocks traded lower, with trading volumes likely to remain thin amid the Independence Day holiday in the United States.
Finally, the rupee ended at 85.40 (Provisional), appreciated by 15 paise from its previous close of 85.55 on Thursday. The currency touched a high and low of 85.50 and 85.30 respectively.
