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  Business   Market  12 Feb 2019  Rupee gains 6 paise against dollar in opening trade

Rupee gains 6 paise against dollar in opening trade

PTI
Published : Feb 12, 2019, 10:08 am IST
Updated : Feb 12, 2019, 10:08 am IST

A positive opening in the domestic equity market gave the uptrend some momentum.

On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar.
 On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar.

Mumbai: The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade on Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.

Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee, forex dealers said.

A positive opening in the domestic equity market gave the uptrend some momentum, they added.

The rupee opened lower at 71.21, but recovered to trade 6 paise higher at 71.12 against the dollar.

The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session on Tuesday.

On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies.

Tags: rupee, dollar, american currency, indian currency
Location: India, Maharashtra, Mumbai (Bombay)