Rupee Gains Strongly Against US Dollar | Check details

The rupee was up against the US dollar in early morning trade on Wednesday after hitting a record low on Monday.

The rupee appreciated against the US dollar

HIGHLIGHTS

  • On Tuesday, the rupee gained 10 paise to close at 77.34 against the US dollar
  • The rupee fell to a record low of 77.44 against the US dollar on Monday
  • Sensex and Nifty fell on Wednesday

The rupee was up 17 paise to 77.17 against the US dollar in early trade on Wednesday. This came after a rebound in regional currencies and a fall in crude oil prices. Forex traders said the Reserve Bank of India (RBI) may also have intervened after the domestic unit fell to a lifetime low on Monday.

On Tuesday, after two days of heavy losses, the rupee rose 10 paise to close at 77.34 against the US dollar. However, weak domestic stocks and continued foreign capital outflows limited gains, forex traders said.

The rupee fell 54 paise on Monday to close at a record low of 77.44 against the US dollar.

STOCK MARKETS DOWN

Meanwhile, the benchmark S&P BSE Sensex fell 0.29 percent or 159.34 points to 54,205.51. The NSE Nifty 50 Index fell 0.27 percent or 44.30 points to 16,195.75.

Benchmark indices posted losses for the third consecutive day on Tuesday.

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Cheryl Tenny

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