News Column

Indian Rupee Rises To 1-week High Against US Dollar

July 9, 2014

NEW DELHI (Alliance News) - The Indian rupee strengthened against the US dollar in the morning deals on Thursday.

Indian Finance Minister Arun Jaitley will present nation's budget for 2014-2015 in parliament at 1:30 am ET.

Amid expectations from the middle class, industry and investors, the government is expected to extend tax relief to the salaried class and unveil steps to boost economic growth and curb fiscal deficit.

Against the greenback, the rupee rose to a 1-week high of 59.5750. At yesterday's close, the rupee was trading at 59.7550 against the greenback.

If the rupee extends its gain, it is likely to find resistance around the 59.16 region.

Traders await Indian trade data for June, due today.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

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