Rupee makes incredible Rs10 gain against US dollar

The rupee achieved an incredible gain of Rs10 against the US dollar on Wednesday in the interbank, thanks to promising import data.

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The rupee built on its recent surge of gains against the US dollar during intra-day trading on Wednesday and around 12:50 p.m., it was traded for Rs228.

In the open market, the greenback was trading for a high of Rs233.50

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On Tuesday, the rupee had improved to Rs238.38, up 0.19% from the day before it closed at Rs238.84.

The main reason for the sudden re-emergence was the promising data on the country’s imports that had decreased, demonstrating that the government’s economic measures to control the growing current account deficit have borne fruit.

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