Rupee strengthens against US dollar on Monday
India, Dec. 2 -- Indian rupee strengthened against the US dollar on Monday, despite economic growth concerns after India's Q2 GDP growth dipped to over 6-yr low of 4.5 percent in July-September 2019, dragged mainly by deceleration in manufacturing output and subdued farm sector activity, according to official data released on Friday. Strengthening of the US dollar against other currencies overseas and sustained foreign fund outflows, weighed on the domestic currency and restricted its gains. Foreign institutional investors (FIIs) sold shares worth Rs 1,892.29 crore on Friday, exchange data showed. Meanwhile, investors are waiting for the fresh developments on trade deal between US and China. On the global front, the Japanese yen held six-mo...
To read the full article or to get the complete feed from this publication, please Contact Us