Rupee rises on strong equities, weak dollar
Sees third straight session of gain
- The rupee gained 52 paise against the dollar at a four-week high level of 75.66 on the back of strong domestic equities and weakening dollar.
- The rupee opened strong at 75.94 compared with the previous close of 76.18. It touched the day’s high of 75.60, before closing at 75.66, up 52 paise.
- This is the third straight session of gain for the domestic currency, which has appreciated around 1% against the dollar.
- Rupee extended gains during late Asian trades beyond 76 on likely overseas inflows into local stocks amid Facebook-Jio deal related flows, Fed policy due tonight and ECB.
- The dollar fell ahead of the Federal Reserve’s policy, the dollar index was trading 0.28% down at 99.58.