Rupee rises 10 paise against US dollar in early trade
Dealers Said The Dollar’s Weakness Against Some Currencies Overseas And Early Gains In The Domestic Equity Market Supported The Rupee.
Continuing its upward journey for a third straight day, the rupee strengthened by another 10 paise to 70.97 against the US dollar at the interbank forex market Friday on increased selling of the American currency by exporters and banks. Dealers said the dollar’s weakness against some currencies overseas and early gains in the domestic equity market supported the rupee.
On Thursday, the rupee had gained 26 paise to end at 71.07 against the US dollar as gains in domestic equities bolstered forex market sentiments. The benchmark BSE Sensex rallied by 253.42 points, or 0.71 per cent, to 36,448.52 in opening trade Friday.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 94.45 crore, and domestic institutional investors (DIIs) purchased shares worth Rs 389.96 crore Thursday, provisional data showed.
For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.
More from Business
Take Control Of Your Financial Goals: Apply For A Personal Loan Now
Nihal Dangoria: An Indian Entrepreneur Making a Bright Future For The Real Estate Industry
Data breach incident at Extramarks highlights growing cybersecurity concerns in Indian companies
How is ePayLater empowering retailers across the country
Follow your heart, but don't ignore your mind When it comes to investing