INSUBCONTINENT EXCLUSIVE:
INR vs USD: The rupee closed 4 paise away from its all-time closing low against the greenbackThe rupee gave up recent gains against the US
That marked the rupee's return to below 70 levels against the greenback after a gap of two sessions
The rupee declined as much as 33 paise against the American currency during Thursday's session, but contained its fall at 30 paise at the
closing.Here are five things to know:1
Minutes of the Fed's latest policy meeting released on Wednesday suggested the US central bank is on course to further raise interest rates
after two hikes this year
With that, the dollar got a boost against major peers
The dollar index - which measures the greenback against six major currencies - moved 0.2 per cent higher.3
Trade tariffs imposed by the US and China, the world's two largest economies, on each other kicked in on Thursday
That also supported the safe-haven US currency
The two sides went ahead with the second bout of tariffs against each other even as officials held talks in Washington.4
Meanwhile, the domestic stock markets registered mild gains to register record closing highs, led by exporters and heavyweights such as
Reliance Industries and LT
Weakness in the rupee augurs well for exporters such as IT and pharma companies, say analysts.(With agency inputs)
