The rupee gives a U-turn, up to 10 paise at 68.40 per dollar
New Delhi, July 5 () After opening with a weak note, the rupee recovered 10 paise to trade at 68.40 against the US dollar, as the currency market weighed the measures announced in the Union Budget for achieve the goal of $ 5 trillion economy.
In the interbank foreign exchange market, the local unit opened at 68.55 per dollar, but when Finance Minister Nirmala Sitharaman submitted her first budget, the local unit gained strength and peaked at 68.40 against the US dollar. , 10 paise more than its previous closure.
The rupee had settled at 68.50 against the US dollar on Thursday.
Introducing the first Budget of the Modi government in his second term, he said that the Indian economy, which reached $ 1.85 trillion five years ago, has reached $ 2.7 trillion now and has the capacity to reach 5 trillions of dollars in the coming years. .
She said the interim budget focused on a 10-point vision to boost the economy. In the current year, India's economy will grow into an economy of USD 3 billion, the sixth largest in the world.
We need to invest in infrastructure, digital economy and job creation in small and medium enterprises, said Sitharaman.
Meanwhile, the decline in oil prices also supported the local unit.
Crude futures for Brent, the world benchmark for oil, fell 0.24 percent to USD 63.15 per barrel.
Foreign institutional investors (FII) were net sellers in the capital markets, taking out Rs 28.95 crore on Thursday, according to provisional data. Domestic exchanges were traded in negative territory on Friday, with the Sensex benchmark indices trading 362.28 points up in 39,545.78 and Nifty down to 113.50 points at 11,833.25. DRR MKJ