Rupee gains at 42.66/67 per USD as oil drops

Mumbai, Jul 18: The Rupee on Friday July 18, rose higher at 42.66/67 against US Dollar in the opening trade, gained about 15 paise from its previous close of 42.8150/8250 per dollar, as oil prices eased further.

Indian unit extended the gains against greenback, as fall in crude oil prices would help to bring down the trade deficit, dealers said. The currency has rebounded 1.6 per cent from a 15-month low of 43.475 per dollar, hit on July 1. Dealers further expect the Rupee to trade firm against the US Unit. Crude oil in New York closed at USD 129.29 per barrel on Thursday, July 17, the lowest since June 5.

UNI