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Rupee down by 5 paise against USD
Economy

Rupee down by 5 paise against USD

Agency News

Mumbai, Jun 26 : The rupee on Wednesday opened 5 paise down at 69.40 against the US dollar amid some buying in American currency by banks and importers.

The dollar edged up from a three-month low on Wednesday, as investors dialled back expectations for aggressive US rate cuts next month but broader conviction the Federal Reserve will need to ease policy soon capped greenback gains. The domestic currency opened lower at 69.39 against the dollar at the interbank foreign exchange (forex) market.

High fluctuation was seen during intra day session as it registered day high and low at 69.48 and 69.36 respectively.The rupee had settled at 69.31 against the US dollar on Tuesday. (UNI)