Twitter
Advertisement

Rupee recovers 42 paise to 73.15 against US dollar

The rupee recovered by 42 paise to 73.15 against the US currency in early trade Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domestic equity markets.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

The rupee recovered by 42 paise to 73.15 against the US currency in early trade Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domestic equity markets.

At the Interbank Foreign Exchange, the rupee opened up at 73.18 and further advanced to quote 42 paise higher at 73.15 on increased selling of the American currency by exporters and banks.

The rupee sentiment also received a boost after a steep fall over 4 per cent in Brent crude prices Tuesday, dealers said.

Brent crude prices fell 4.37 per cent, biggest single day's fall in three months to USD 76.24 barrel. The benchmark oil was trading near USD 76.79 barrel in early trade Wednesday.

On Tuesday, the local currency had ended almost flat at 73.57 against the US currency Tuesday.

On a net basis, foreign funds sold shares worth Rs 340.35 crore, while domestic institutional investors bought shares to the tune of Rs 116.41 crore Tuesday, provisional data showed.

The benchmark BSE Sensex was trading sharply higher by 444.39 points or 1.31 per cent at 34,291.62 points in opening trade on Wednesday. 

Meanwhile,  Asian stocks edged up on Wednesday as a late round of buying helped Wall Street indexes pare most of their earlier panic-driven losses, although crude oil struggled near two-month lows after Saudi Arabia flagged possible supply increases.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent following a decline of more than 2 percent the previous day.
Global stocks suffered earlier this week on worries about US earnings, Italian government finances, U.S. trade tensions and mounting pressure on Saudi Arabia over the death of dissident journalist Jamal Khashoggi.

South Korea's KOSPI added 0.5 percent and Japan's Nikkei climbed 0.25 per cent.

Wall Street's three major indexes slumped early on Tuesday but ended well off the day's lows as investors snapped up beaten-down shares late in the session.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement