Rupee rises 27 paise to 70.87 against USD in early trade

DN Bureau

The Indian rupee appreciated by 27 paise to 70.87 against the US dollar in early trade on Tuesday as optimism about US-China trade talks and easing crude oil prices enthused investors.

File Photo
File Photo


Mumbai: The Indian rupee appreciated by 27 paise to 70.87 against the US dollar in early trade on Tuesday as optimism about US-China trade talks and easing crude oil prices enthused investors.

Also Read: Rupee slips marginally in opening deals 

On Friday, the rupee had settled at 71.14 against the US dollar. Forex market was closed on Monday on account of assembly elections in Maharashtra.

Also Read | Funds inflows lift rupee to 63.60 against dollar

The domestic unit however could not hold on to the gains and was trading at 70.91 against the dollar at 0949 hrs. Forex traders said investors were optimistic about the US-China trade talks after US President Donald Trump said that 'phase 1' China trade pact is on track for November.

However, cautious opening in domestic equities weighed on the local unit.

Also Read | Rupee hits fresh 2-yr high of 63.65 against dollar

Also Read: Gold falls by Rs 145 on weak global trends, strong rupee

Domestic bourses opened on a cautious note on Tuesday with benchmark indices Sensex trading 50.64 points lower at 39,247.74 and Nifty up 4.60 points at 11,666.45. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.02 per cent to 97.31.










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