Rupee Surges 13 Paise To 71.67 Against US Dollar
Mumbai: The Rupee on Tuesday surged by 13 paise to 71.67 against the US Dollar in opening trade, amid positive opening in domestic equities and weakening of the greenback in overseas markets.
Forex dealers said although the investors were cautious regarding the outcome of RBI’s Monetary Policy Committee scheduled for Thursday, selling of the American currency by exporters supported the rupee. However, sustained foreign fund outflows and rising crude oil prices curtailed the upward spree of the domestic unit.
On Tuesday, the rupee opened strong at 71.72 at the interbank forex market then gained further ground to touch 71.67 per dollar amid positive opening in domestic equities, showing a gain of 13 paise against dollar.
On Monday, the rupee had plunged by 55 paise to close at 71.80 against the American currency.
The benchmark BSE Sensex was trading with gains of 29.40 points, or 0.08 per cent to quote at 36,612.14 while the NSE Nifty was trading at 10,920.75, up 8.50 points, or 0.08 per cent.
Meanwhile, Brent crude, the global benchmark, was trading higher at 62.79 per barrel higher by 0.45 per cent.