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Rupee spurts Rs 1.02 to 72.43 against US dollar.

Date: 03-11-2018
Subject: Rupee spurts Rs 1.02 to 72.43 against US dollar
NEW DELHI: The rupee appreciated by Rs 1.02 or 1.38 per cent to 72.43 against the US dollarNSE -1.10 % on Friday on continuous fall in crude oil prices and fresh FII inflows. 

Brent crude oil price plunged around 6 per cent for the week ended November 2. 

The rise was also aided by selling of American currency by exporters and banks. Foreign institutional investors (FIIs), which had been selling on bourses, made fresh purchases worth Rs 348.75 crore on Thursday, as per the provisional data. 

Earlier in the day, domestic equity markets opened in the green following strong global cues. Nifty traded robust and gained over 1.5 per cent. Most sectoral indices traded in line with the benchmark index and ended with decent gains. 

The news that the US agreed to grant waiver to India from Iran sanctions and easing of trade war tension between the US and China boosted sentiment and triggered noticeable buying across the board. Also, encouraging earning announcements further fuelled the momentum. 

Source: economictimes.indiatimes.com

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