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Rupee rebounds 8 paise in opening trade

PTI
Published : Apr 24, 2018, 9:44 am IST
Updated : Apr 24, 2018, 9:43 am IST

Rupee is trading at 66.40 against dollar in opening trade at the interbank foreign exchange market.

A higher opening of domestic equities too lifted the domestic currency. (Photo: AP)
 A higher opening of domestic equities too lifted the domestic currency. (Photo: AP)

Mumbai: The rupee strengthened by 8 paise to 66.40 against the US dollar in opening trade at the interbank foreign exchange market on Tuesday on some selling of the greenback by exporters and banks.

A higher opening of domestic equities too lifted the domestic currency, dealers said.

On Monday, the rupee had lost 36 paise to hit a fresh 13-month low of 66.48 against the US dollar as rising crude prices and sustained foreign fund outflows led to subdued forex market sentiment.

In global trade, the US dollar had strengthened against major world currencies overseas, while investors maintained focus on the US Treasury market, where the 10-year yields were near with 3 per cent.

Meanwhile, the benchmark BSE Sensex recovered 147.25 points, or 0.42 per cent, to 34,598.02 points in early trade on Tuesday.

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