The Friday morning started with a pleasant news for Indian currency. Rupee versus the US dollar has opened with a strong margin on Friday. Rupee rose 52 paise to 71.85 today In the last trading day i.e. also on Wednesday, there was a great recovery in rupee against the dollar. On Wednesday, the rupee closed at 72.37 level with 61 paise.
The government has taken some steps recently to tackle the challenge of deficit in the rupee and the current account deficit including the decision to ban non-essential imports. This decision was taken in a meeting chaired by Prime Minister Narendra Modi for reviewing the health of the economy.
According to the finance ministry, all these measures will have a positive impact of $ 8-10 billion.
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