RUPEE RECOVERS FROM ALLTIME LOWS

The Indian rupee averaged ` 75.7 per dollar in May, appreciating from the all-time low of ` 76 in April 2020

One reason could be improvement in balance of payments. India’s merchandise trade deficit shrank to $ 6.8 billion in April from $ 9.8 billion in March

Foreign exchange outgo on account of FII outflows halved to $ 972 million in May from April. Forex reserves rose $ 8.2 billion to cross $ 500 billion in week ended June 12