WEEKLY CURRENCY MARKET 27th - 31st MAY 2019

On a weekly basis, the rupee declined 16 paise or 0.23 per cent against US dollar. The rupee Monday gave away its morning gains and closed with a marginal rise of 2 paise at 69.51 against the US dollar amid a recovery in the greenback against Asian currencies and foreign fund flows. Rupee opened 14 paise lower at 69.65 on Tuesday and closed 17 paise lower against the dollar at 69.68 owing to increased demand from importers and banks. Rupee opened 6 paise lower at 69.74 on Wednesday as against dollar and Rupee closed 15 paise lower against the dollar at 69.83 owing to increased demand from importers and banks. Rupee closed 4 paise lower against the dollar at 69.87 due to rising crude oil prices and foreign fund out flows weighed on the domestic currency. The rupee witnessed high volatility in the forex market Friday following the allocation of key portfolios in the newly elected government. Rupee closed 18 paise higher against the dollar at 69.69 due to easing crude prices along with selling of the American currency by exporters.