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Rupee jumps 19 paise to 68

Rupee jumps 19 paise to 68.58 on robust foreign fund inflows

Thu July 12 2018

 

The rupee firmed up by 19 paise to 68.58 against the dollar in early trade on robust capital inflows. Investors await the index of industrial production (IIP) and inflation data to be released later today.

 

Forex dealers said selling of the greenback by banks and exporters supported the rupee. However, dollar’s strength against other currencies overseas, due to mounting US-China trade tensions and strong US inflation data, capped the gains.

 

The rupee sentiment was also buoyed as the benchmark BSE Sensex surged to an all-time high of 36,540.39. Yesterday, the rupee had ended strong by 5 paise at 68.77 on the back of some stray dollar-selling by exporters and banks.

 

Source: Hindu business line.

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