ZCZC
BCN-23
INDIA-RUPEE-USD
Rupee rises 6 paise against US dollar in early trade
Mumbai, Aug 6, 2018 (BSS/PTI) – Extending its rising streak for the second
day, the rupee appreciated by 6 paise against the US dollar to 68.54 in early
trade today on increased selling of the American currency by exporters and
banks amid higher domestic equity market.
Forex dealers said besides sustained selling of the greenback, a higher
opening of the domestic equity markets boosted the rupee at the interbank
forex market.
However, the dollar’s strength against some currencies overseas after the
US job data reinforced investors’ expectations the Federal Reserve will
gradually raise interest rates this year, capped the gains of the domestic
unit.
On Friday, the rupee had gained 10 paise to end at 68.60 against the US
dollar in line with a stellar rally in domestic equities despite ongoing
global trade war jitters.
The benchmark BSE Sensex rose by 222.03 points, or 0.59 per cent, to hit
its all-time high of 37,778.19 and NSE Nifty too scaled a new peak of 11,400
in early trade today.
BSS/PTI/HR/1245