Rupee recovers 42 paise to 73.15 against dollar, buoyed by easing crude prices and selling by exporters

At the Interbank Foreign Exchange, the rupee opened up at 73.18 and further advanced to quote 42 paise higher at 73.15 on increased selling of the American currency by exporters and banks.

Press Trust of India October 24, 2018 11:01:42 IST
Rupee recovers 42 paise to 73.15 against dollar, buoyed by easing crude prices and selling by exporters

Mumbai: The rupee recovered by 42 paise to 73.15 against the US currency in early trade Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domestic equity markets.

At the Interbank Foreign Exchange, the rupee opened up at 73.18 and further advanced to quote 42 paise higher at 73.15 on increased selling of the American currency by exporters and banks.

The rupee sentiment also received a boost after a steep fall over 4 percent in Brent crude prices Tuesday, dealers said.

Rupee recovers 42 paise to 7315 against dollar buoyed by easing crude prices and selling by exporters

Representational image.

Brent crude prices fell 4.37 percent, biggest single day's fall in three months to USD 76.24 barrel. The benchmark oil was trading near $76.79 barrel in early trade Wednesday.

On Tuesday, the local currency had ended almost flat at 73.57 against the US currency Tuesday.

On a net basis, foreign funds sold shares worth Rs 340.35 crore, while domestic institutional investors bought shares to the tune of Rs 116.41 crore Tuesday, provisional data showed.

The benchmark BSE Sensex was trading sharply higher by 444.39 points or 1.31 percent at 34,291.62 points in opening trade on Wednesday.

Updated Date:

also read

Petrol, diesel prices hiked again on 28 October, at fresh all-time highs; check rates here
India

Petrol, diesel prices hiked again on 28 October, at fresh all-time highs; check rates here

Petrol and diesel prices on 28 October 2021: Petrol price in Delhi stands at Rs 108.29 per litre while diesel is available for Rs 97.02. In Mumbai, petrol is retailing at Rs 114.14 while diesel costs Rs 105.12

Government removes export curbs on all diagnostic kits, reagents amid declining COVID-19 cases
India

Government removes export curbs on all diagnostic kits, reagents amid declining COVID-19 cases

The export restrictions on these products were imposed in June last year and 16 August, 2021 on account of increasing COVID-19 cases

Rupee slips by six paise to 75.02 against US dollar in opening trade
Business

Rupee slips by six paise to 75.02 against US dollar in opening trade

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.06 percent to 93.88