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Rupee rises 14 paise in opening trade

Rupee rises 14 paise in opening trade

Thu Jan 10 2019

 

The rupee on Thursday appreciated 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency on uncertainty over Federal Reserve rate hikes following the release of Fed meet minutes.

 

Forex traders said the weakness in the US dollar against other currencies overseas, falling crude oil prices and fresh foreign fund inflows pushed the rupee higher. At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.49, but soon appreciated to 70.32 against the greenback, up 14 paise over its previous closing price.

 

The rupee on Wednesday had depreciated by 25 paise to close at 70.46 against the US dollar.

 

Source: Hindu business line.

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