Published on 12/07/2018 3:15:54 PM | Source: Dion Global Solutions Ltd.

Rupee rises against US dollar ahead of key macro data

Posted in Currency News| #Rupee #US dollar #India #Economy

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The Indian rupee was trading higher against the greenback on Thursday amid fresh bouts of dollar selling from banks and exporters ahead of release of key macro data. Investors are keeping an eye on Consumer Price Index-based (CPI) inflation and Index of Industrial Production data due to be released later in the day which may give some indication about the health of Asia’s third largest economy.

The rupee opened on positive note at 68.82 from previous closing level at 68.93 per dollar at the inter-bank foreign exchange here. The local currency was currently trading up 27 paise at 68.66, while it touched high and low of 68.61 and 68.82 during the day’s trade (at 14:25 hours). Adding to it, firm trend across the domestic equity market also boosted sentiment at local forex market. The BSE Sensex was trading at 36547.75, up by 281.82 points or by 0.78 per cent and the NSE Nifty was at 11036.15, up by 87.85 points or by 0.8 per cent.