• search

Rupee strengthens against US dollar, gains 50 paise in early trade

By Pti
Subscribe to Oneindia News
For Quick Alerts
Subscribe Now
For Quick Alerts
For Daily Alerts

    Mumbai, Sep 14: Continuing its recovery, the rupee on Friday strengthened by 50 paise to 71.68 against the dollar in early trade in the forex market on the government's assurance that all steps would be taken to ensure the domestic currency does not depreciate to unreasonable levels.

    Representational Image

    Besides, dollar selling by exporters and banks, the greenback's weakness against other currencies overseas, helped the domestic currency recover, forex dealers said.

    They said a higher opening in the equity market and positive macro data released on Wednesday also supported the rupee's recovery, they added.

    Industrial production grew at 6.6 per cent in July and retail inflation cooled to a 10-month low of 3.69 per cent in August, according to the data released by Central Statistics Office.

    The rupee on Wednesday rebounded from the historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar.

    The forex market was closed Thursday on account of Ganesh Chaturthi.

    Meanwhile, the BSE benchmark Sensex reclaimed the 38,000-mark to 38,036.81 by climbing 318.85 points, or 0.85 per cent, in opening trade.


    For Breaking News from Oneindia
    Get instant news updates throughout the day.

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more