Business
Rupee rebounds 31 paise to 64.73 on positive global cues
Saturday, 24 February 2018 | PNS | Mumbai
In line with domestic equities, the rupee on Friday regained strength to close at 64.73 a dollar, advancing by a good 31 paise, amid indication that the US Federal Reserve may go slow on rate hikes. Besides, a heavy dollar unwinding by traders and exporters supported the rupee recovery.
Global currency and financial markets heaved a sigh of relief after a Fed official said in an interview that raising interest rates too quickly could slow the economy too much. The latest Fed policy-meeting minutes had cemented expectations of more aggressive US rate hikes this year.
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