Rupee leaps 7 paise against the US dollar
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India rupee rose 7 paise in early trade, in sync with firm Asian peers, but trade was cautious ahead of key March quarter GDP data due later in the day.
At 10:10 am, the rupee was up 7 paise or 0.10 per cent at 75.68 against the US dollar. It opened at 75.70 compared with the previous close of 75.7612. The Indian unit is up 6.03 per cent for the year to date.
As India nears the end of the fourth phase of lockdown, economists are wondering what’s the cost of nation-wide lockdown that has been in place since March 25.
To be sure, India’s growth was already lying at a six year low during the pre-lockdown period. In that context, today’s March quarter GDP figure might be helpful.
