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1-min read

Rupee Recovers 18 Paise at Rs 73.88 Against US Dollar as IMF Prediction Boosts Sentiment

IMF forecast of 7.3 per cent growth for India in the current year of 2018 and that of 7.4 per cent in 2019, too, boosted investor sentiment.

PTI

Updated:October 9, 2018, 10:12 AM IST
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Rupee Recovers 18 Paise at Rs 73.88 Against US Dollar as IMF Prediction Boosts Sentiment
File photo of the Bombay Stock Exchange.
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Mumbai: The rupee made a cautious recovery of 18 paise to 73.88 against the US dollar Tuesday on fresh selling of the American currency by banks and exporters.

Besides, the dollar's overseas weakness, easing global crude oil price and higher opening in the domestic stock market supported recovery in the domestic unit, traders said.

At the forex market, the local currency was trading 18 paise higher at 73.88 in early trade.

The International Monetary Fund's forecast of a growth rate of 7.3 per cent for India in the current year of 2018 and that of 7.4 per cent in 2019, too, boosted investor sentiment here.

In the previous session Monday, the rupee slumped 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar.

Meanwhile, the benchmark Sensex rose by 72.04 points, or 0.21 per cent, to 34,546.42 in opening trade.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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