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Rupee ends tad higher against dollar on Monday

17 Aug 2020 Evaluate

Indian rupee ended marginally higher against dollar on Monday, owing to dollar sale by exporters and banks. Sentiments were positive with report that foreign portfolio investors (FPI) remained net investors in Indian markets in the first half of August, pumping in Rs 28,203 crore in debt and equities on net basis in the period. However, upside remained capped as the government data showed that contracting for the fifth straight month, India's exports slipped 10.21 per cent to $23.64 billion in July, on account of decline in the shipments of petroleum, leather and gems and jewellery items. On the global front; dollar edged lower and commodity currencies inched higher on Monday as investors were relieved by a delay in the review of the U.S.-China trade pact which left the deal intact.

Finally, the rupee ended at 74.88, 2 paise stronger from its previous close of 74.90 on Friday. The currency touched a high and low of 74.90 and 74.78 respectively.

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