ZCZC
BCN-33
INDIA-RUPEE-USD
Rupee rebounds 7 paise against dollar in early trade
Mumbai, Jan 9, 2019 (BSS/PTI) – The rupee recovered 7 paise to 70.14
against the US dollar in early trade Wednesday on fresh selling of the
American currency by exporters and banks amid early gains in domestic
equities.
Forex dealers said weakness in the dollar against some currencies overseas
supported the domestic unit, but rising crude oil prices and foreign fund
outflows capped the rise.
At the Interbank Foreign Exchange (forex), the rupee opened higher at 70.08
but it slipped partially to quote 7 paise higher at 70.14.
The unit was also boosted by a higher opening of the domestic equities
market tracking positive cues from Asian stocks amid rising hopes of US and
China striking a trade deal.
US President Donald Trump, on Tuesday, said that talks with Beijing on a
trade deal were going on “very well”.
The Indian rupee Tuesday plunged by 53 paise to close at 70.21 against the
US dollar amid renewed concerns over widening of current account deficit
following constant rise in global crude oil prices.
Meanwhile, the benchmark BSE Sensex rose 226.01 points, or 0.63 per cent,
to 36,206.94 in opening session.
BSS/AFP/HR/1348