|
Category :
industry
Headline :
Rupee gains 29 paise to 76.11 against US dollar in early trade
Date:
05/05/2022 10:22
The rupee appreciated 29 paise to 76.11 against the US dollar in opening trade on Thursday amid weakening of the American currency in the overseas market.
At the interbank foreign exchange, the rupee opened at 76.17 against the American dollar, then gained further ground to quote at 76.11, registering a rise of 29 paise from the last close.
On Wednesday, the rupee had settled at 76.40 against the American currency.
The Indian rupee opened stronger against the US dollar this Thursday after a surprise rate hike by the Reserve Bank of India and the US Fed Chairman Powell pushing back against a steeper 75-basis points rate hike in the coming months, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
|