Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Rupee Gains 12 Paise Against Dollar in Early Trade

Renewed hopes for US-China trade talks after Beijing indicated that it may not retaliate against the latest tariffs imposed by the US helped the domestic currency.

PTI

Updated:August 30, 2019, 10:07 AM IST
facebookTwitterskypewhatsapp
Rupee Gains 12 Paise Against Dollar in Early Trade
Representative image
Loading...

Mumbai: The rupee appreciated by 12 paise to 71.67 against the US dollar in early trade on Friday following positive developments in the US-China trade talks.

Besides, firm trend in domestic equity markets and easing crude oil prices also revived the rupee sentiment, forex dealers said.

At the interbank foreign exchange, the rupee opened strong at 71.76 and gained further strength to touch a high of 71.49 against the US dollar. The domestic currency, however, could not hold on to the gains and was trading at 71.67.

The rupee had slipped 3 paise to close at 71.80 against the US currency on Thursday.

Renewed hopes for US-China trade talks after Beijing indicated that it may not retaliate against the latest tariffs imposed by the US helped the domestic currency, dealers said.

The BSE Sensex was trading 205.70 points, or 0.55 per cent, higher at 37,274.63, while the broader Nifty rose 61.35 points, or 0.56 per cent, to 11,009.65 in morning trade.

In the annual report for FY19, released Thursday, the RBI conceded that diagnosing the exact problems is "difficult", but reiterated that the issues are not structural in nature, barring those around land, labour and agri produce marketing.

"The key question that confronts the economy is: are we dealing with a soft patch, or a cyclical downswing, or a structural slowdown?" the RBI, which has revised down its GDP forecast to 6.9 percent earlier this month, concludes that "the ongoing deceleration can be in the nature of a soft patch mutating into a cyclical downswing, rather than a deep structural one."

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 986.58 crore on Thursday, as per provisional data.

Brent crude futures, the global oil benchmark, declined 0.02 per cent to $61.07 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 98.52.

The 10-year government bond yield was down at 6.55 per cent in morning trade.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC 2,049.30 3.78
Maruti Suzuki 6,591.95 10.39
ICICI Bank 417.50 7.99
HDFC Bank 1,199.60 8.95
Reliance 1,254.35 6.39
Company Price Change %Gain
Astral Poly Tec 1,213.70 5.25
HDFC 2,052.10 3.92
SBI Life Insura 815.85 1.73
Zee Entertain 301.10 -2.49
Maruti Suzuki 6,585.25 10.89
Top Gainers
Company Price Change %Gain
Eicher Motors 17,860.20 13.38
Hero Motocorp 2,862.90 13.06
IndusInd Bank 1,419.60 10.71
UltraTechCement 4,269.65 10.43
Maruti Suzuki 6,591.95 10.39
Company Price Change %Gain
Hero Motocorp 2,866.50 13.19
Maruti Suzuki 6,585.25 10.89
IndusInd Bank 1,419.60 10.74
Bajaj Finance 3,705.60 10.19
SBI 301.70 10.09
Top Losers
Company Price Change %Gain
Power Grid Corp 196.20 -2.46
Zee Entertain 301.40 -2.41
Infosys 805.00 -1.91
TCS 2,065.45 -1.74
NTPC 119.85 -1.52
Company Price Change %Gain
Power Grid Corp 196.35 -2.39
Infosys 805.10 -1.94
TCS 2,065.60 -1.74
NTPC 119.90 -1.52

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results