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Rupee up 10 paise to 68.42 against US dollar

Press Trust of India  |  Mumbai 

The pared its initial gains, while trading 15 paise higher at 68.42 against the American in late morning deals on continued bouts of dollar selling from banks and exporters.

The resumed sharply higher at 68.32 from yesterday's closing level of 68.57 at the here.

The Indian unit traded between 68.31 and 68.43 on sustained selling of the US dollar by banks during morning deals, it was quoting at 68.42 at 1030 hrs.

"Macro concerns and dollar's strength pressured the sentiment," a said.

Meanwhile, the domestic industrial production slipped to a seven-month low of 3.2 per cent in May due to sluggish performance of and power sectors, while continued to remain firm in June on costlier fuel.

Overseas, the US dollar was buoyant near a 10-day peak against its major peers in early Asian trade, supported by yields that edged higher on expectations the American inflation rate will rise.

The 30-share BSE Sensex is trading flat by 0.19 points or 0.00 per cent at 36,548.60 at 1050 hrs.

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

First Published: Fri, July 13 2018. 13:25 IST