Rupee rises 17 paise against US dollar in early trade

At the interbank foreign exchange, the rupee opened strong at 74.26 against the dollar and later edged lower to quote at 74.27, a rise of 17 paise against the last close.

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Rupee rises 17 paise against US dollar in early trade

The Indian rupee appreciated 17 paise to 74.27 against the US dollar in opening trade on Thursday, following a positive trend in domestic equities and weak American currency.

Besides, fresh foreign fund inflows also supported the domestic unit, forex dealers said.

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At the interbank foreign exchange, the rupee opened strong at 74.26 against the dollar and later edged lower to quote at 74.27, a rise of 17 paise against the last close.

In the previous session, the rupee had settled at 74.44 against the US dollar.

On the domestic equity market front, BSE Sensex was trading 160.60 points or 0.29 percent higher at 54,686.53, while the broader NSE Nifty advanced 45.45 points or 0.28 percent to 16,327.70.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 percent at 92.87.

Foreign institutional investors emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 238.14 crore, as per exchange data.

Strengthening crude prices in the international market, however, kept the rupee surge in check.

Global oil benchmark Brent crude futures rose 0.04 percent to USD 71.47 per barrel.

(News source: PTI)

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Rupee rises 17 paise against US dollar in early trade
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At the interbank foreign exchange, the rupee opened strong at 74.26 against the dollar and later edged lower to quote at 74.27, a rise of 17 paise against the last close.
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THE POLICY TIMES
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