Rupee rises by 9 paise to close at 74.49 against U.S. dollar
The Hindu
On Monday, the rupee had settled at 74.58 against the U.S. dollar
The rupee strengthened for the third straight session on Tuesday, closing 9 paise higher at 74.49 (provisional) against the U.S. dollar on the back of gains in the domestic equities. At the interbank forex market, the local unit opened at 74.49 against the greenback and witnessed an intra-day high of 74.41 and a low of 74.50 during the session. It finally ended at 74.49 against the American currency. On Monday, the rupee had settled at 74.58 against the U.S. dollar. In the last three trading sessions, the rupee has appreciated by 22 paise.
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Why is the rupee falling? Is it falling worse than other currencies? Does the fall hurt or help the Indian economy? And finally, is this a cause for alarm? Here we discuss these questions.