Published on 2/08/2017 12:14:33 PM | Source: Dion Global Solutions Ltd.
Rupee edges higher against greenback
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. The market sentiment was also lifted amid speculation that ease in WPI and retail inflation in June, may put pressure on the Reserve Bank of India to cut interest rate.
At the Interbank Foreign Exchange Market, the local currency was up by 01 paise at 64.26 per dollar against a previous close of 64.27 per dollar at 12:00 hours. In the day’s trade so far, the Rupee touched an intra-day high of 64.25 after making a negative opening at 64.31. However, muted trading across equity market restricted the Rupee upward movement. Meanwhile, the 30-share barometer SENSEX was trading at 32550.13, down by 25.04 points or by 0.08 per cent, and the NSE Nifty was at 10099.55, down by 15.1 points or by 0.15 per cent.