Rupee Dollar: The rupee firmed up by 14 paise to 64.05 against the US dollar on Tuesday as exporters and banks intensified selling of the American currency.
At 2pm, the rupee was trading at 64.08 a dollar, up 0.18% from its close of 64.19. The rupee opened at 64.11 a dollar. Rupee dollar slides everyday.The rupee appreciated by 5 paise to 64.10 against the US dollar on Monday, with the American currency coming under heavy selling by banks and exporters.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.89, down 0.03% from its previous close of 92.863.On Friday, the rupee had retreated by 4 paise to end at 64.15 against the US dollar even as the greenback struggled to bounce back globally.
Asian currencies were trading higher with strong manufacturing data from China, and as a shakeout in the Trump’s administration adds to uncertainty over the dollar.The dollar’s slide overseas amid concerns over renewed show of strength on the Korean Peninsula and a stronger opening of domestic equities took the rupee high.
Dealers said the dollar’s weakness against other currencies overseas except Japanese yen and a stronger opening in the domestic stock market gave the rupee strength.The benchmark BSE Sensex fell 189.67 points, or 0.58 per cent, to 32,193.63 in early trade on Friday.
The Nikkei India Manufacturing Purchasing Managers’ Index was at 47.9 in July, lowest since February 2009 as the roll out of a new nationwide sales tax disrupted supply chains across the country.
Meanwhile, the benchmark Nifty touched a new high of 10,101.05 and the Sensex climbed 100.51 points, or 0.30 per cent, to 32,615.45 in opening trade.Asian currencies were trading higher with strong manufacturing data from China, and as a shakeout in the Trump’s administration adds to uncertainty over the dollar.
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