Published on 8/01/2018 3:27:52 PM | Source: Dion Global Solutions Ltd
Rupee edges higher against US dollar
The Indian Rupee was trading marginally higher greenback on Monday due to weak dollar demand by exporters and banks as well as sustained fund inflows. The US dollar weakened against global currencies after the passage of US tax Bill and tightening of monetary policy by central banks. At the Interbank Foreign Exchange Market, the local currency was trading 2 paise higher at 63.49 per dollar against a previous close of 63.51 per dollar .
During the day’s trade so far, the rupee touched an intra-day high of 63.38 after opening at 63.48. Adding to it, bullish trend in the domestic equity market also gave a boost to sentiment at local forex market. The 30-share benchmark index was trading at 34352.21, up by 198.36 points or by 0.58 per cent, and the NSE Nifty was at 10615.25, up by 56.4 points or by 0.53 per cent.