Rupee Recovers From All-Time Low, Up 23 Paise Against USD

The rupee recovered from an all-time low of 69.91 and strengthened by 23 paise to 69.68 against the US dollar in opening trade at the inter bank foreign exchange market today on some macroeconomic boost. Yesterday, the rupee had plunged by Rs 1.08, or 1.57 per cent, to a record low of 69.91 against the US currency amid fears that Turkish currency turmoil could turn out into global financial crisis.
In a ray of hope for domestic economy, latest data showed that retail inflation fell to 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review. For more information please visit : www.dollaradvisory.com and call : 9111179961