Hindustantimes wants to start sending you push notifications. Click allow to subscribe

Rupee rises 23 paise to 68.74 versus US dollar in early trade

Mumbai | ByPress Trust of India
Jul 19, 2019 10:47 AM IST

Forex traders said rupee along with most Asian currencies were trading in the positive territory following dovish comments from both New York Fed President John Williams and Vice Chair Richard Clarida.

The rupee appreciated by 23 paise to 68.74 against the US dollar in early trade Friday, as market participants pinned their hopes on aggressive interest cut by the US Federal Reserve later this month.

Forex traders said rupee along with most Asian currencies were trading in the positive territory following dovish comments from both New York Fed President John Williams and Vice Chair Richard Clarida.

Hindustan Times - your fastest source for breaking news! Read now.

The rupee opened strong at 68.78 at the interbank forex market then gained further ground to touch 68.74 per dollar, displaying gains of 23 paise over its last close.

On Thursday, the rupee had settled at 68.97 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 96.81.

Traders said foreign fund outflows and cautious opening in domestic equities weighed on the local unit.

Foreign investors sold shares worth 1,404.86 crore on a net basis Thursday, provisional data showed.

The benchmark BSE Sensex was trading 221.24 points, or 0.57 per cent down to quote at 38,706.82 while the NSE Nifty was trading at 11,529.00 , down 67.90 points, or 0.59 per cent.

Meanwhile, brent crude, the global benchmark, was trading at 63.18 per barrel higher by 2.02 per cent.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Start 14 Days Free Trial Subscribe Now
OPEN APP