Published on 19/07/2017 2:31:47 PM | Source: Dion Global Solutions Ltd.
Rupee edges higher against US dollar
The Indian Rupee was trading marginally higher against the greenback on Wednesday amid selling of dollar by banks and exporters, while sustained foreign fund inflows also boosted home currency. Adding to it, firmness in the equity market also boosted the Rupee upward movement.
At the Interbank Foreign Exchange Market, the local currency was up by 01 paise at 64.40 per dollar against a previous close of 64.41 per dollar at 13:55 hours. In the day’s trade so far, the Rupee touched an intra-day high of 64.38 after making a positive opening at 64.41.
The market sentiment also got a lift amid speculation that ease in WPI and retail inflation in June, may put pressure on the Reserve Bank of India to cut interest rate in August. Meanwhile, the 30-share barometer SENSEX was trading at 31846.04, up by 135.05 points or by 0.43 per cent, and the NSE Nifty was at 9871.9, up by 44.75 points or by 0.46 per cent.