Wednesday, 14 November 2018

Rupee strengthens by 75 paise against US Dollar

The Indian rupee opened close to its two-month high of 72.16/$ for the first time since September 21. The rupee opened at 72.18 against the US dollar on Wednesday on easing worries over the current account deficit after crude oil prices dropped. 
Besides, the dollar's weakness against some currencies overseas also supported the domestic unit.

The Indian currency is currently trading higher by 75 paise at 72.13/$.


On the economy front, WPI data for October will be released today.


RBI's reference rate for the dollar stood at Rs72.58, while for the euro, it was at Rs81.61. Further, its reference rate for the yen stood at Rs63.69, while that for the British pound sterling was at Rs93.49.


In Tuesday’s session, the rupee ended 22 paise higher to close at 72.67 against US dollar.


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