Markets

Rupee advances 11 paise to 63.26 against US dollar

Continued foreign fund inflows and weakness in the greenback against other currencies overseas supported the rupee

The rupee strengthened by 11 paise to trade at 63.26 against the US dollar in opening session on Monday on selling of the greenback by exporters and banks amid gains in stocks which scaled record levels.

Currency dealers said continued foreign fund inflows and weakness in the greenback against other currencies overseas supported the rupee.

Furthermore, a higher opening in the domestic equity market gave the uptrend some momentum, they added.

On Friday, the rupee ended at a 32-month high of 63.37, up 4 paise on steady unwinding of the American currency by exporters.

Meanwhile, the benchmark BSE Sensex rallied 178 points, or or 0.52 per cent, to trade at an all-time high of 34,331.85 and the NSE Nifty breached the 10,600 for the first time in opening trade today.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jun 7, 2020 9:36:09 AM | https://www.thehindu.com/business/markets/rupee-advances-11-paise-to-6326-against-us-dollar/article22395032.ece

Next Story