ZCZC
BCN-15
INDIA-RUPEE-USD
Rupee rises 23 paise to 68.74 vs USD in early trade
Mumbai, Jul 19, 2019 (BSS/PTI) – The rupee appreciated by 23 paise to 68.74
against the US dollar in early trade Friday, as market participants pinned
their hopes on aggressive interest cut by the US Federal Reserve later this
month.
Forex traders said rupee along with most Asian currencies were trading in the
positive territory following dovish comments from both New York Fed President
John Williams and Vice Chair Richard Clarida.
The rupee opened strong at 68.78 at the interbank forex market then gained
further ground to touch 68.74 per dollar, displaying gains of 23 paise over
its last close.
On Thursday, the rupee had settled at 68.97 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of
six currencies, rose 0.03 per cent to 96.81.
Traders said foreign fund outflows and cautious opening in domestic equities
weighed on the local unit.
Foreign investors sold shares worth Rs 1,404.86 crore on a net basis
Thursday, provisional data showed.
The benchmark BSE Sensex was trading 221.24 points, or 0.57 per cent down to
quote at 38,706.82 while the NSE Nifty was trading at 11,529.00 , down 67.90
points, or 0.59 per cent.
Meanwhile, brent crude, the global benchmark, was trading at 63.18 per barrel
higher by 2.02 per cent.
BSS/PTI/HR/1100