Rupee rises 4 paise to 75.69 against U.S. dollar in early trade

A weak US currency in the international market also helped the rupee, forex traders said

A weak US currency in the international market also helped the rupee, forex traders said

The rupee appreciated 4 paise to 75.69 against the US dollar in opening trading on March 30, following a rally in domestic equities amid hopes for a breakthrough in Russia-Ukraine negotiations.

A weak US currency in the international market also helped local unity, forex traders said.

However, rising global crude oil prices curtailed domestic currency gains, she added.

On interbank currencies, the rupee opened strongly at 75.65 against the US dollar, but lost some ground to reach 75.69, up 4 paise from the last close.

It moved near 75.69 and 75.62 in morning trading.

In the previous session, the rupee had settled at 75.73 against the greenback.

Meanwhile, global Brent crude oil futures were up 1.02% to $111.35 a barrel.

The dollar index, which measures the dollar’s strength against a basket of six currencies, fell 0.24% to 98.20.

In the domestic stock market, the 30-stock Sensex was trading 471 points or 0.81% higher at 58,414.94, while the broader NSE Nifty rose 125.65 points, or 0.73% to 17,450.95.

After Tuesday’s talks between Ukrainian and Russian officials, Moscow announced it will reduce military operations near Kiev and Chernihiv.

Foreign institutional investors were net buyers in the capital market on Tuesday as they bought shares worth 35.47 crore, according to stock market data.

www.thehindu.com

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