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Rupee rises 14 paise against US dollar in early trade

Press Trust of India  |  Mumbai 

The Thursday appreciated 14 paise to 70.32 against the US in early trade amid weakness in the American on uncertainty over rate hikes following the release of Fed meet minutes.

Forex traders said the weakness in the US against other currencies overseas, falling and fresh foreign fund inflows pushed the higher.

The minutes of US Fed's latest policy meeting showed the policymakers may slow the pace of rate hikes to prevent a slowdown in the

At the Foreign Exchange, the opened weak at Rs 70.49, but soon appreciated to 70.32 against the greenback, up 14 paise over its previous closing price.

The rupee on Wednesday had depreciated by 25 paise to close at 70.46 against the US

Brent crude, the global benchmark, was trading lower at 60.89 per barrel, lower by 0.90 per cent.

Meanwhile, foreign funds bought shares worth Rs 276.14 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 439.67 crore on Wednesday, provisional data showed.

The benchmark BSE Sensex was trading down 27.62 points, or 0.08 per cent at 36,185.29, while the NSE Nifty was trading at 10, 839.65, down 15.50 points, or 0.14 per cent.

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

First Published: Thu, January 10 2019. 10:10 IST