Rupee Rises 6 Paise to 72.90 Per US Dollar in Early Trade

Rupee Rises 6 Paise to 72.90 Per US Dollar in Early Trade

Indian rupee, the domestic currency appreciated by Rupee Rises 6 Paise to 72.90 per US dollar on Thursday's opening trade, amid muted domestic equities.

Indian rupee, the domestic currency appreciated by Rupee Rises 6 Paise to 72.90 per US dollar on Thursday’s opening trade, amid muted domestic equities.

The local unit opened at 72.92 against the US dollar at the interbank forex market and inched 6 paise higher to 72.90 over its previous close in early deals.

On Wednesday, the Rupee Rises 6 Paise had settled flat at 72.96 per American currency. Meanwhile, the dollar index advanced 0.07 per cent to 91.23 against a basket of six currencies.

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Reliance Securities said in a research note, “The pullback in Asian equities and possibility of the Reserve Bank of India’s intervention, however, would likely cap the rupee’s upside. Markets will now look ahead to Reserve Bank of India’s monetary policy decision Friday.”

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Indian rupee, the domestic currency appreciated by┬áto 72.90 per US dollar on Thursday’s opening trade, amid muted domestic equities.

The local unit opened at 72.92 against the US dollar at the interbank forex market and inched Rupee Rises 6 Paise higher to 72.90 over its previous close in early deals.

On Wednesday, the rupee had settled flat at 72.96 per American currency. Meanwhile, the dollar index advanced 0.07 per cent to 91.23 against a basket of six currencies.

Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,” The U.S. Dollar Index is at 91.17 against currency basket, It trading above 50 Day SMA and likely to go towards 100 days SMA showing bullish momentum. Asian Equity market trading flat on the morning. Technically, USDINR Feb Future closed at 73.11.

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