Rupee Rises Vs Dollar Today, A Day Ahead Of Karnataka Election Results
The rupee today moved higher against the US dollar amid broad weakness of the greenback against a basket of currencies. Indian equity markets were flat today. Cautiousness prevailed in the markets ahead of announcement of Karnataka election results due tomorrow. Karnataka went to the polls on Saturday. Meanwhile, exit polls predict a hung assembly. Traders also attributed the rupee's rise against the US dollar to fresh selling of the American currency by exporters and banks. The rupee rose to 67.21 against the US dollar at day's high. It was trading at 67.27 against the US dollar in recent trade. On Friday, the rupee had settled almost flat at 67.33 against the US currency after a highly volatile session. Meanwhile, annual wholesale price inflation accelerated to 3.18 per cent in April, government data showed on Monday.
Here are five things to know about the dollar-rupee forex rate today:
Karnataka electionsKarnataka election resultsUS plans to reintroduce sanctions against Iran(With agency inputs)
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