| Date: |
19-09-2016 |
| Subject: |
Indian rupee up 5 paise at 66.93 against US dollar in early trade |
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Indian rupee opened 3 paise higher at 66.95 against the US dollar at at the Interbank Foreign Exchange (forex) market on Monday as bankers and exporters took to selling of American currency and flat but positive opening of domestic equity markets. The Indian rupee was trading at 66.93 against the US dollar at 9.43 am and had closed at 66.98 on Friday. Domestic equity markets opened flat with positive bias tracking their global counterparts. At 9.43 am, Sensex was trading 11.99 points up at 28,611.02, while NSE Nifty was trading 15.90 points up at 8,795.75.
Increased foreign fund inflows also contributed to rupee’s rally. Dollar’s weakness against some other currencies overseas boosted the rupee value against the dollar.
According to Bloomberg survey, the median estimate puts the rupee at 68 per dollar by the end of 2016.
Source : financialexpress.com
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