Published on 11/05/2017 12:48:03 PM | Source: Dion Global Solutions Ltd

Rupee trades 24 paise higher against greenback

Posted in Top Stories| #Rupee #US dollar #Currency News

The Indian Rupee were trading higher against the greenback on Thursday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. Adding to it, extended rally at the domestic equity market also contributed to rupee strength.

At the Interbank Foreign Exchange Market, the local currency was up by 24 per cent to trade at 64.56 per dollar against a previous close of 64.80 per dollar at 12:20 hour.

Meanwhile, the 30-share barometer SENSEX was trading at 30348.22, up by 100.05 points or by 0.33 per cent, and the NSE Nifty was at 9446.55, up by 39.25 points or by 0.42 per cent. As on May 10, 2017, the FIIs continued to remain net seller in equity segment, but turned net buyer in debt market.

Gross equity purchased stood at Rs. 3364.40 Crore and gross debt purchased stood at Rs. 1203.77 Crore, while the gross equity sold stood at Rs. 3945.75 Crore and gross debt sold stood at Rs. 163.73 Crore. Therefore, the net investment of equity and debt reported were Rs. -581.35 Crore and Rs. 1040.04.