ZCZC
BCN-26
INDIA-RUPEE-USD
Rupee gains 26 paise against US dollar in opening trade
Mumbai, Feb 13, 2019 (BSS/PTI) – The rupee appreciated by another 26 paise
to 70.44 against the US dollar in opening trade Wednesday after retail
inflation fell to a 19-month low of 2.05 per cent in January.
The weakness in the dollar against some currencies overseas as investors
shifted their focus to riskier asset amid the US-China trade truce hopes,
also supported the rupee’s upmove.
Besides, retail inflation falling to a 19-month low of 2.05 per cent in
January over the previous month, and selling of the American currency by
exporters supported the rupee, forex dealers said.
Industrial output growth remained subdued at 2.4 per cent in December 2018 on
account of contraction in the mining segment and poor show by the
manufacturing sector.
The rupee had gained 48 paise to end at a one-month high of 70.70 against the
US dollar Tuesday, registering its sixth straight session of gain.
In the last six trading sessions, the rupee has gained 110 paise.
The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at
36,338.30.
BSS/AFP/HR/1300