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Rupee rebounds 7 paise against dollar in early trade

Press Trust of India  |  Mumbai 

The recovered 7 paise to 70.14 against the US in early trade Wednesday on fresh selling of the American by exporters and banks amid early gains in domestic equities.

Forex dealers said weakness in the against some currencies overseas supported the domestic unit, but rising and foreign fund outflows capped the rise.

At the Foreign Exchange (forex), the opened higher at 70.08 but it slipped partially to quote 7 paise higher at 70.14.

The unit was also boosted by a higher opening of the domestic equities market tracking positive cues from Asian stocks amid rising hopes of US and striking a trade deal.

US Donald Trump, on Tuesday, said that talks with on a trade deal were going on "very well".

The Indian Tuesday plunged by 53 paise to close at 70.21 against the US amid renewed concerns over widening of current account deficit following constant rise in global

Meanwhile, the benchmark BSE Sensex rose 226.01 points, or 0.63 per cent, to 36,206.94 in opening session.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 09:40 IST