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Rupee rises 8 paise against dollar

Tue Nov 05 2019

 

The rupee gained 8 paise to close at a fresh five-week high of 70.69 against the US dollar on Tuesday, following foreign fund inflows and gains in Asian peers after the Chinese central bank cut interest rates.

 

The rupee opened lower at 70.80 per US dollar, compared to the previous close of 70.77 at the interbank foreign exchange market. Later, it recovered some lost ground and moved in a range of 70.65 and 70.81 in afternoon trade before concluding at 70.69, showing a rise of 8 paise.

 

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07 per cent to 97.57. Brent crude futures, the global oil benchmark, surged by 1.17 per cent higher at $62.86 per barrel.

 

Source: https://www.thehindubusinessline.com

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