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.
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.