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Rupee up 48 paise in early trades

Wed Aug 14 2019

 

 

The rupee rose 48 paise to 70.92 against the dollar in early trade on Wednesday amid market recovery across Asia.

 

Forex traders said the recovery was mainly due to Trump's decision that delayed tariffs on some Chinese imports and that gave much-needed relief for markets gripped by political and economic turmoil.

 

At 9.50 am, the rupee opened firmer at 71.00, then edged up a high of 70.85, before being quoted at 70.92 against the American currency, gaining 48 paise from its previous closing price.

 

The Indian rupee on Tuesday had closed at 71.40 against the US dollar.

 

Source: Hindu business line.

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