You are here: Home » Finance » Money & Forex Markets » News
Business Standard

Rupee appreciates 14 paise to 73.15 against US dollar in early trade

The rupee strengthened by 14 paise to 73.15 against the US dollar in opening trade on Tuesday, helped by positive domestic equities and weak American currency

Topics
Rupee | US Dollar | Currency

Press Trust of India  |  Mumbai 

Photo: Bloomberg
Photo: Bloomberg

The strengthened by 14 paise to 73.15 against the in opening trade on Tuesday, helped by positive domestic equities and weak American

At the interbank forex market, the domestic unit opened at 73.17 and gained further ground to touch 73.15, registering a rise of 14 paise over its previous close.

On Monday, the had depreciated by 16 paise to close at 73.29 against the

"Anticipation of US President Trump recovering from COVID and of Democrats and Republicans reaching a consensus on a fiscal stimulus package seems to be buoying risk sentiment," said Abhishek Goenka, Founder and CEO, IFA Global.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent down at 93.39.

On the domestic equity market front, the BSE benchmark Sensex was trading 358.66 points higher at 39,332.36, and the broader NSE Nifty rose 97.30 points to 11,600.65.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 236.71 crore on Monday, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.65 per cent to USD 41.56 per barrel.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 06 2020. 10:40 IST
RECOMMENDED FOR YOU
.