Rupee rises 7 paise to 74.69 against US dollar in early trade

Mumbai (Bombay): The rupee welcomed seven paise to 74.69 over the US dollar in opening trade on Wed.

supported by positive national equities & sustained foreign fund inflows.

In the interbank forex market, the national unit opened in 74.71 over the US dollar.

Gained furthermore field & reached 74.69 over the US dollar, registering a raise of seven paise over its recent close.

It’d settled in 74.76 over the US dollar on Tue..

: PTI GRAPHICS(PTI8_18_2020_00101003)

“Asian currencies have initiated with gains over the US dollar this in the morning & can lend help,” Reliance Securities stated in a study note adding that “RBI can be present within the markets to control volatility”.

Meantime, the dollar index, that gauges the greenback’s strength over a basket of 6 currencies, rose 0.08 percent to 92.34.

Forex traders furthermore stated that markets going to look ahead to the US Federal Reserve minutes planned to declare tonight.

On the national equity market front.

The 30-share BSE benchmark Sensex has been trading 161.08 points higher in 38,689.40 & broader NSE Nifty sophisticated 47.30 points to 11,432.65.

Foreign institutional investors have been net buyers within the capital market as they bought shares value INR 1,134.57 cr on Tue., as per provisional exchange statistics.

Brent crude futures, the global oil benchmark, slipped 0.75 percent to USD 45.12 per barrel.

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