Rupee rebounds 7 paise against USD in early trade
The rupee recovered 7 paise to 70.14 against the USD in early trade today on fresh selling of the American currency by exporters and banks amid early gains in domestic equities. Forex dealers said weakness in the dollar against some currencies overseas supported the domestic unit, but rising crude oil prices and foreign fund outflows capped the rise. Read the details here.
Trump comments on US-China trade deal, market gets boost
At the Interbank Foreign Exchange (forex), the rupee opened higher at 70.08 but it slipped partially to quote 7 paise higher at 70.14. The unit was also boosted by a higher opening of the domestic equities market tracking positive cues from Asian stocks amid rising hopes of US and China striking a trade deal. US President Donald Trump also commented on trade-deal with China.
Sensex rises to 36,206.94 points in the opening session
Trump yesterday said that talks with Beijing on a trade deal were going on "very well". The Indian rupee yesterday plunged by 53 paise to close at 70.21 against the USD amid renewed concerns over the widening of current account deficit following constant rise in global crude oil prices. Meanwhile, the benchmark BSE Sensex rose 226.01 points, or 0.63%, to 36,206.94 in opening session.
