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Rupee Gains Further Ground, Even As Focus Remains On Elections’ Results

Rupee Gains Further Ground, Even As Focus Remains On Elections' Results

Rupee gains further ground, even as focus remains on elections’ results

The rupee gained further ground on Thursday even as investors contemplated whether there would be a diplomatic solution from the planned talks between Russia and Ukraine.

But the focus still remains squarely on the elections’ results in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa.

According to Reuters, the energy-sensitive currency gained slightly to 76.2510 on Thursday. While the Press Trust of India (PTI) said, the currency gained 27 paise to close at 76.35 provisionally, against the US dollar.

At the interbank foreign exchange, the rupee opened at 76.27 against the US dollar, then gained momentum and touched 76.20 earlier in the session, registering a gain of 42 paise from the previous close.

On Wednesday, the rupee gained to close at 76.62 against the US dollar following a retreat in crude oil prices and a rebound in domestic equities.

That after the rupee fell to close at a lifetime low of 77 on Tuesday, weighed by surging crude oil prices.

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