Dynamite News Rupee spurts 25 paise to 68.33 vs USD on Fed boost
The rupee rebounded 25 paise to 68.33 against the US dollar in early trade Thursday, in tandem with other emerging market currencies after Federal Reserve chief Jerome Powell bolstered expectations of a rate cut later this month.
Mumbai: The rupee rebounded 25 paise to 68.33 against the US dollar in early trade Thursday, in tandem with other emerging market currencies after Federal Reserve chief Jerome Powell bolstered expectations of a rate cut later this month.
Domestic equity benchmark BSE Sensex jumped over 200 points in early trade Thursday tracking strong cues from global markets following Powell's remarks.
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The 30-share index, however, gave up some gains to trade 106.35 points, or 0.28 per cent, higher at 38,663.39 at 0930 hours. Similarly, the broader Nifty rose 33.80 points, or 0.29 per cent, to 11,532.70.
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The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.23 per cent to 96.87. The 10-year government bond yield was at 6.51 per cent in morning trade. (PTI)