Rupee Hits 1-Month High Against US Dollar | Read

Maintaining its uptrend for the second straight day, the rupee strengthened by 17 paise to a fresh one-month high of 68.26 against the US dollar today after the Reserve Bank of India (RBI) maintained its growth outlook for the economy. The RBI projected a gross domestic product (GDP) expansion rate of 7.4 per cent in 2018-19 on the back of robust macroeconomic environment. Increased selling of the greenback by exporters and banks even as the RBI hiked repo rate by 25 basis points on Wednesday too boosted the rupee, forex dealers said.