INR gains further ground at around 1-month high

The Indian rupee appreciated 16 paise to close at an over one-month high of 85.39 (provisional) against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Besides, rupee alongside other Asian currencies, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline. Meanwhile, the benchmark 30-share BSE Sensex ended the session up 193.42 points, or 0.23 percent, at 83,432.89, after having hit a low of 83,015.83 during intraday trade. The broader NSE Nifty index fell to 25,331.65 before reversing course to close up 55.70 points, or 0.22 percent, at 25,461 on optimism about India's upcoming trade deal with the United States.

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