The Indian rupee traded higher against the U.S. dollar in evening deals on Friday, amid a gain in regional stocks.
The rupee advanced to a 4-day high of 63.495 against the greenback, and has been steady thereafter. The rupee may possibly find resistance around the 63.00 area.
Speaking at a press conference, India’s Finance Minister Arun Jaitley told India’s economic growth may pick up to 7.4 percent in the present fiscal year, thus becoming fastest growing large economy in the world.
Regarding the domestic currency, the minister noted that its value is determined by market factors.
The material has been provided by InstaForex Company – www.instaforex.com