 "Rupee gains on better than expected CAD numbers")
The rupee gained against the dollar as narrower current account deficit numbers for the April-June quarter helped boost sentiments.
While CAD widened for the first quarter as compared to the previous one but the deficit is likely to come down in the subsequent quarters as gold imports restrictions imposed by the government will start yielding results.
At 10.20am, the rupee was trading at 62.33/dollar against the previous close of 62.62/dollar.
September was the first month since April when the currency recorded monthly gain on the back of steps taken by the central bank to boost inflows.
The rupee gained close to 5% in September which is the highest monthly gain in about an year.
While CAD widened for the first quarter as compared to the previous one but the deficit is likely to come down in the subsequent quarters as gold imports restrictions imposed by the government will start yielding results.
At 10.20am, the rupee was trading at 62.33/dollar against the previous close of 62.62/dollar.
Also Read
The rupee gained close to 5% in September which is the highest monthly gain in about an year.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%