Nuhey News

We talk about the MARKET

Early trading saw the rupee gain 25 paise to 82.51 against the US dollar

The Indian rupee rose 25 paise to 82.51 against the US dollar in early trade on Wednesday, tracking gains in the Asian currencies. The rupee opened strong at 82.51 at the interbank forex market and inched higher to 82.50 against the greenback, registering a rise of 25 paise over its previous close. On Tuesday, the rupee had settled at 82.76 against the US dollar.

Forex traders said positive opening in the domestic equity market, sustained foreign fund inflows and weak American currency supported the local unit. Besides, the dollar’s weakness against some currencies overseas also helped the rupee to rise, they added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08 per cent down at 90.39.  On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 789.60 points higher at 39,632.10 and the broader NSE Nifty was up 229.95 points at 11,734.05.