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Rupee gains 4 paise to 65

Rupee gains 4 paise to 65.10 as Fed signals caution on rate hikes

Thu Oct 12 2017


The rupee gained 4 paise to 65.10 against the dollar today after the US Fed minutes signalled “patience in removing policy accommodation''.


The summary of the US central bank’s previous meeting released yesterday also showed a strong degree of caution over the timing of future interest rate increases. This made the American currency lose its sheen further among banks and exporters.


Weakening of dollar against other currencies overseas and a strong domestic equity market supported the rupee momentum.


Yesterday, the rupee had closed higher by 14 paise at 65.14 against the greenback after a steady dollar unwinding by exporters and corporates.


The benchmark Sensex rose 112.53 points or 0.35 per cent to 31,946.52, in early trade.


Source: Hindu business line.

Wednesday, September 19, 2018
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