Dynamite News Rupee gains 6 paise against dollar in opening trade
The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.
Mumbai: The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.
Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee, forex dealers said.
Also Read | Rupee slides 16 paise against dollar to 68.24
A positive opening in the domestic equity market gave the uptrend some momentum, they added.
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Rupee slips 5 paise to 68.87 against US dollar
The rupee opened lower at 71.21, but recovered to trade 6 paise higher at 71.12 against the dollar.
The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session Tuesday.