LIVE TV DownloadNews18 App
News18 English
»
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.
Loading...
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.

Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

| Edited by: Puja Menon
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 219.00 -1.02
Dr Reddys Labs 2,563.35 -3.90
Reliance 1,244.45 1.65
ITC 280.10 0.79
Axis Bank 686.60 -1.21
Company Price Change %Gain
Yes Bank 218.70 -1.04
Dr Reddys Labs 2,556.90 -4.21
Reliance 1,243.50 1.47
Jet Airways 232.55 2.99
GRUH Finance 239.30 -3.22
Top Gainers
Company Price Change %Gain
BPCL 327.85 3.87
NTPC 136.25 3.81
Power Grid Corp 181.50 3.74
Bharti Infratel 306.90 3.26
GAIL 317.75 3.18
Company Price Change %Gain
NTPC 136.20 4.13
Power Grid Corp 181.50 3.80
ONGC 135.10 2.27
Reliance 1,243.50 1.47
Larsen 1,243.25 1.31
Top Losers
Company Price Change %Gain
JSW Steel 266.90 -4.90
Sun Pharma 422.90 -4.08
Dr Reddys Labs 2,563.35 -3.90
Tata Steel 467.50 -3.12
Vedanta 147.30 -2.93
Company Price Change %Gain
Sun Pharma 423.30 -3.94
Tata Steel 467.45 -3.12
Vedanta 147.45 -2.87
Hero Motocorp 2,702.30 -2.75
Bajaj Finance 2,557.50 -1.90

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results