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Business EconomyPosted at: Jun 3 2019 5:55PM


Rupee jumps by 41 paise against USD

Mumbai, Jun 3 (UNI) The Rupee on Monday added another gain of 41 paise to 69.26 as crude oil prices slipped to multi-month lows on global recession fears, dealer at Forex Market informed.
In opening trade, the local unit surged by 28 paise to 69.39 and closed strong at 69.26, surging by 41 paise as compared to its last close.
High oscillation was seen during the day as it registered day high and low at 69.50 and 69.18 respectively.
The Rupee shot up due to weak dollar against other world currencies and rebounding equity market, dealers added.
On Friday, data showed India’s economy grew at a slowest pace in more than four years at 5.8 per cent in the last quarter thereby raising prospects of a rate cut in the RBI scheduled this week. For the fiscal year that ended March 31st showed the economy grew at 6.8 per cent compared to estimates of 7 per cent.
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