The Indian rupee strengthened for the second session against the US dollar on 5 January 2017, under expectation that the government may pull off its fiscal deficit target after finance minister Arun Jaitley said the tax collection will go beyond budget estimates. However, the rupee closed at 67.96 per dollar, up 0.12 percent from its preceding close of 68.05.
Meanwhile, the Euro climbed against US Dollar same day afternoon in spite of strong and US eco-stats publishing throughout the day. The Euro was able to become stronger throughout the day to some extent due to weakness in its rivals, plus the week’s optimistic Eurozone stats including PMIs and inflation. EUR /USD has marked higher on Thursday, as the pair trades at the 1.05.