ENA Sectors 2018-11-29 07:19:02 <p><strong>New Delhi, Nov 29 (KNN) </strong>Indian rupee opened stronger by 50 paise today after Federal Reserve Chairman Jerome Powell said US interest rates were just below neutral.</p> <p>This is for the first time rupee breached the 70-mark since August this year.</p> <p>Fed Chair Jerome Powell said the Fed's policy rate is now just below a level that neither brakes nor boosts a healthy economy.</p> <p>This has promoted speculation that the cycle of US interest rate hikes may be diminishing gradually.</p> <p>It has been reported that the gain in the domestic currency is seen due to recent ease in crude oil prices and some positive developments in the US-China trade ties in the upcoming G20 summit. </p> <p>The rupee rose to a three-month high against the dollar today.</p> 21415 https://knnindia.co.in/news/newsdetails/sectors/indian-rupee-rises-to-3-month-high-level-against-dollar 2018-11-29 07:19:02 knnindia.co.in