GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Rupee Rises 25 Paise to Hit 3-week High Against US Dollar

Forex dealers said besides sustained selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.

PTI

Updated:July 13, 2018, 10:04 AM IST
facebookTwittergoogleskypewhatsapp
Rupee Rises 25 Paise to Hit 3-week High Against US Dollar
Photo used for representation.
Mumbai: Rising for the third day, the rupee appreciated by 23 paise to trade at a three-week high of 68.32 against the US dollar on Friday amid easing food prices, and continued selling of the greenback by banks and exporters.

Forex dealers said besides sustained selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.

The US dollar strengthened on hopes that US inflation will pick up. However, concerns about rising US-China trade tensions capped the American currency's gains.

According to two sets of official data released on Thursday, industrial production slipped to a seven-month low of 3.2 per cent in May due to sluggish performance of manufacturing and power sectors, while retail inflation continued to remain firm in June on costlier fuel.

Retail inflation spiked to a five-month high of 5 per cent in June on costlier fuel, despite easing food prices, reducing the possibility of an interest rate cut by the Reserve Bank in its upcoming monetary policy review.

On Thursday, the local currency had edged up by 20 paise to end at a one-week high of 68.57 against the US dollar buoyed by a steep fall in crude prices and a strong rally in equity markets.

Meanwhile, the benchmark BSE Sensex was up 112.10 points, or 0.31 per cent, at 36,660.51 in early trade.

Also Watch

| Edited by: Puja Menon
Read full article
Loading...
Most Active
Company Price Change %Gain
Bajaj Finance 2,721.35 +201.15 +7.98
Bajaj Auto 2,839.60 -275.40 -8.84
Reliance 1,128.65 +23.80 +2.15
Infosys 1,348.10 +31.40 +2.38
Ashok Leyland 107.45 +1.75 +1.66
Company Price Change %Gain
Bajaj Finance 2,721.50 +203.90 +8.10
ICICI Bank 266.00 +4.80 +1.84
Infosys 1,348.35 +31.80 +2.42
Bajaj Auto 2,841.10 -271.70 -8.73
Power Grid Corp 176.20 -1.05 -0.59
Top Gainers
Company Price Change %Gain
Bajaj Finance 2,721.35 +201.15 +7.98
Bajaj Finserv 6,663.95 +367.05 +5.83
Sun Pharma 560.10 +15.15 +2.78
Tech Mahindra 659.45 +17.25 +2.69
Cipla 625.80 +15.70 +2.57
Company Price Change %Gain
Sun Pharma 559.90 +14.80 +2.72
Infosys 1,348.35 +31.80 +2.42
Reliance 1,128.55 +24.65 +2.23
ICICI Bank 266.00 +4.80 +1.84
Axis Bank 534.45 +7.15 +1.36
Top Losers
Company Price Change %Gain
Bajaj Auto 2,839.60 -275.40 -8.84
HPCL 275.40 -9.00 -3.16
IOC 161.05 -4.75 -2.86
Vedanta 202.40 -5.80 -2.79
BPCL 388.85 -9.45 -2.37
Company Price Change %Gain
Bajaj Auto 2,841.10 -271.70 -8.73
Vedanta 202.60 -5.70 -2.74
Hero Motocorp 3,373.15 -85.75 -2.48
ONGC 157.85 -3.55 -2.20
Kotak Mahindra 1,333.45 -16.80 -1.24
Loading...
Loading...