Rupee rises 7 paise to 73.61 against U.S. dollar in early trade

The dollar index fell 0.10% to 92.58.

The Indian rupee appreciated 7 paise to 73.61 against the U.S. dollar in opening trade on September 14, tracking a positive trend in domestic equities and sustained foreign fund inflows.

At the interbank foreign exchange, the rupee opened at 73.62 against the dollar, then edged higher to 73.61, up 7 paise over its previous close.

In initial deals, the local unit touched a low of 73.65 against the American currency.

On September 13, the rupee had settled at 73.68 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.10% to 92.58.

On the domestic macro-economic front, subdued prices of food items like vegetables pulled down retail inflation for the third month in a row to 5.3% in August, within the Reserve Bank of India’s comfort zone.

Foreign institutional investors were net buyers in the capital market on September 13 as they purchased shares worth ₹1,419.31 crore, as per exchange data.

On the domestic equity market front, BSE Sensex was trading 244.08 points or 0.42% higher at 58,421.84, while the broader NSE Nifty advanced 70.75 points or 0.41% to 17,426.05.

Meanwhile, global oil benchmark Brent crude futures rose 0.75% to $74.06 per barrel.

Source: Read Full Article