Rupee gains 26 paise against US dollar in opening trade

Date:

Mumbai, Feb 13 (PTI) The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January.

The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee’s upmove.

Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said.

Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.

The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain.

In the last six trading sessions, the rupee has gained 110 paise.

The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at 36,338.30.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

spot_imgspot_img

Subscribe

More like this
Related

Sri Lanka Women tour of South Africa 2024 – Series Digest

Laura Wolvaardt (102 off 63 bals) smashed her first...

JKSCERT issues revised date sheet for 8th standard

KD NEWS SERVICE SRINAGAR, Mar 28: The Jammu and Kashmir...

Congress leader Harbans Bral joins BJP in Jammu

KD NEWS SERVICE JAMMU, Mar 28: As the process for...

Satellite-Based Toll Collection System To Replace Toll Plazas: Nitin Gadkari

KD NEWS SERVICE NAGPUR, Mar 27: Union Raod Transport Minister...