MUMBAI: The Indian rupee was on Tuesday trading marginally higher against the US dollar tracking gains in Asian currencies market.
At 9.06am, the home currency was trading at 66.42, up 0.10% from its previous close of 66.48. The local unit opened at 66.45 per US dollar and touched a high and a low of 66.40 and 66.46, respectively.
Most Asian currencies were trading higher. Malaysian ringgit was up 0.86%, Taiwan dollar 0.74%, South Korean won 0.45%, Japanese yen 0.4%, China offshore 0.35%, Thai baht 0.24%, Singapore dollar 0.24%, Philippines peso 0.15% and China renminbi 0.13%.
Latest data released by the statistics department on Monday showed India’s gross domestic product growth slowed to 7% in the April-June quarter from 7.5% in the January-March quarter as measured at market prices. Another measure—gross value added at basic prices—showed that economic growth accelerated to 7.1% in April-June against 6.1% in January-March.
India’s fiscal deficit during April-July touched Rs.3.85 trillion or 69.3% of the target for FY16, government data showed on Friday. The deficit was 61.2% during the same period a year ago.
