Rupee opens 73 paise higher as exit polls show clear majority for NDA

The rupee on Monday opened sharply higher against the US dollar after the exit polls showed clear majority for the NDA (National Democratic Alliance) in the Lok Sabha elections 2019. The results of the election will come out on Thursday, May 23.

The currency jumped as much as 87 paise to 69.36 level in the early trade. 

The domestic unit on Friday declined by 20 paise to close at 70.23 against the greenback as rising crude oil prices and recent foreign fund outflows weighed on investor sentiment.

During the week, the rupee fell by 31 paise. This is the second