Rupee opens stronger 3-week high ahead of Economic Survey
The Indian rupee opened stronger for the fifth consecutive session against the US dollar tracking gains in its Asian peers, ahead of the key domestic as well as international events due later on Tuesday.
The rupee opened at 67.81 a dollar. At 9.15am, the home currency was trading at 67.84 a dollar— up 0.15% from Monday’s close of 67.95. So far this year, it has gained 0.1%.
On the domestic front, the government will present economic survey and gross domestic annual estimates after 12.30pm on Tuesday. The government will also issue fiscal deficit data for December after 4.30pm.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.36, down 0.07% from its previous close of 100.43.
Asian currencies were trading higher as dollar weaken reverting to a defensive tone amid concern about protectionism in the US after President Trump’s executive order Friday that clamped down on immigration and after earlier threats of border tariffs.
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