Home / Business / Rupee Status : The Floundering Rupee Rises 35 Paise To Rs 71.11 Against US Dollar

Rupee Status : The Floundering Rupee Rises 35 Paise To Rs 71.11 Against US Dollar

Representational Image
Representational Image

The rupee strengthened by 35 paise to 71.11 against the US dollar in early trade on the back of falling crude oil prices. This rise is for the seventh consecutive day

Traders said dollar’s weakness against some currencies overseas and increased selling of the greenback by exporters and banks also supported the rupee.

They said fresh foreign fund inflows and a steep fall of nearly 7 per cent in global crude prices to one-year low on Tuesday buoyed rupee sentiments.

At the interbank forex market, the rupee opened higher at 71.12 and rose further to quote at 71.11, showing a rise of 35 paise over its previous close of 71.46 against the dollar on Tuesday.

The rupee had gained 21 paise to end at 71.46 against the US dollar Tuesday.

In the last six trading sessions, the domestic unit has gained 143 paise.

Forex market remained shut Wednesday on account of Eid-e-Milad.

Meanwhile, the benchmark BSE Sensex was up by 82.53 points, or 0.23 per cent, to 35,282.33 in opening trade

About Impactnews Desk

Check Also

File Picture

UK Court Orders Vijay Mallya’s Extradition , Arrival In India Not Imminent

In big win for India and the CBI and the ED, a London court has …

Leave a Reply

Your email address will not be published. Required fields are marked *