Rupee rises 6 paise against US dollar in early trade

Rupee rises 6 paise against US dollar in early trade

Courtesy : NJ06/08/2018 10:20

 Extending its rising streak for the second day, the rupee appreciated by 6 paise against the US dollar to 68.54 in early trade today on increased selling of the American currency by exporters and banks amid higher domestic equity market. Forex dealers said besides sustained selling of the greenback, a higher opening of the domestic equity markets boosted the rupee at the interbank forex market.

However, the dollar’s strength against some currencies overseas after the US job data reinforced investors’ expectations the Federal Reserve will gradually raise interest rates this year, capped the gains of the domestic unit.
 

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