In the interbank foreign currency market on Friday, the US dollar lost ground to the rupee. The US dollar was trading at Rs278.6 in early trading, down from the previous day’s closing of Rs278.77, which gave the local currency a 17-paisa boost.
Read More: Dollar falls by 28 Paise to Rs 278.80
In the first half of the fiscal year, the value of the dollar increased significantly; at one point, it was selling at more than Rs300. But a deal with the IMF, strict budgetary control, and a campaign against currency hoarding and smuggling caused the value to decline.
Read more: Dollar’s value remains unchanged in the country
The daily fluctuations in value have been limited to a few Paisas over the past few months.
Read More: Dollar becomes 37 paisa cheaper