Rupee rises 42 paise to 71.59 per US dollar in early trade
December 13, 2018 10:01
The rupee Thursday appreciated by 42 paise to 71.59 in early trade after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues.
Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit.
"The new RBI governor's first speech confirms our initial impression that he is likely to be more communicative and consultative in his approach, which is a positive," Japanese financial services major Nomura said in a research note.
At the Interbank Foreign Exchange, the rupee opened on a strong note at 71.70 against the US dollar, then appreciated further to 71.59 showing a rise of 42 paise over it's previous closing. On Wednesday the rupee had declined by 16 paise to 72.01 per US dollar. -- PTI
Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit.
"The new RBI governor's first speech confirms our initial impression that he is likely to be more communicative and consultative in his approach, which is a positive," Japanese financial services major Nomura said in a research note.
At the Interbank Foreign Exchange, the rupee opened on a strong note at 71.70 against the US dollar, then appreciated further to 71.59 showing a rise of 42 paise over it's previous closing. On Wednesday the rupee had declined by 16 paise to 72.01 per US dollar. -- PTI
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