Rupee rises for third straight day, recovers 31 paise to 70.03

  • The Indian currency had opened on Thursday at 70.24 against dollar
  • The recovery is happening at a time when verdict of general elections is round the corner

MUMBAI: For the third straight session, the Indian rupee on Thursday closed higher against the US dollar. This, when the exit polls for the current Lok Sabha elections are due on 19 May and final results are scheduled to be announced on 23 May.

The rupee closed at 70.03 a dollar, up 0.43% from its previous close of 70.34. The Indian currency had opened on Thursday at 70.24 against dollar.

Meanwhile, India's trade deficit widened to a five-month high of $15.30 billion in April from $10.9 billion a month ago and $13.7 billion a year ago. The deficit was wider than the $13.5 billion median estimated in a Bloomberg survey of 21 economists.

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