ZCZC
BCN-21
INDIA-RUPEE-USD
Rupee recovers 6 paise against USD in early trade
Mumbai, Feb 27, 2019 (BSS/PTI) – The rupee strengthened by 6
paise to 71.01 against the US dollar in early trade Wednesday at
the interbank forex market on some selling of the greenback by
exporters and banks amid sustained foreign fund inflows.
A positive opening for the stock markets also boosted the
domestic currency, dealers said.
On Tuesday, the rupee snapped its gains of previous two
sessions and closed 10 paise lower at 71.07 to the US dollar amid
fears of escalation in geopolitical tensions following Indian
fighter jets’ air strike on a Pakistan-based terror camp.
Foreign institutional investors (FIIs) bought shares worth Rs
1,674.17 crore Tuesday, as per provisional data.
In global trade, the US dollar fell to a three-week low after
Federal Reserve chairman reinforced the US central bank’s recent
shift toward a more “patient” approach on policy in the face of
slowing economy.
Meanwhile, the benchmark BSE Sensex rose 218.81 points, or
0.61 per cent, to 36,192.52 points in early trade.
BSS/AFP/HR/1110