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The rupee ended stronger at 61.10 against the dollar as falling global oil prices helped narrow trade deficit and aid to lowering inflation.
India’s trade deficit narrowed to $10.8 billion in August from $12.2 billion in July as the crude price fell. Brent crude dropped over 6 per cent in October to $88.34 a barrel, thereby easing our import bills.
The domestic unit opened marginally higher at 61.27 as compared with Friday’s close of 61.35. It declined a tad to 61.30 per dollar after which it strengthened to 61.10 in the late afternoon trades.
The rupee is expected to see an upward trend amid easing global oil prices and inflation and better trade data.
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