Business Standard

Rupee strengthens by 6 paise to 73.42 against US dollar in early trade

Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee

Rupee

Photo: Shutterstock

Press Trust of India Mumbai

The rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling of the American currency by exporters and banks.

Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee.

On Tuesday, the rupee had climbed 35 paise to close at nearly two-week high of 73.48 per dollar amid softening crude oil prices and easing concerns over the trade deficit.

Meanwhile, the benchmark BSE Sensex jumped 391.18 points, or 1.03 per cent, to 35,553.66 in the opening trade.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 17 2018 | 9:25 AM IST

Explore News