Tuesday, January 18, 2022

Rupee recoups 9 paise against dollar, macro data help

This is the lowest level since November 2014 when the retail inflation came in at 3.23 per cent.

By: PTI | Mumbai |
December 14, 2016 10:55:36 am
rupee, rupee gain, dollar, dollar, Rupee value, rupee vs dollar, rupee dollar, rupee value, rupee price, dollar value, business news, india news The rupee had ended lower by 12 paise at 67.54 on Tuesday.

After two straight days of fall, the rupee on Wednesday staged a mild recovery of 9 paise to 67.45 against the dollar following fresh selling of the US currency by banks and exporters amid positive economic data. Retail inflation in November fell to a two-year low of 3.63 per cent after the Centre’s demonetisation drive dented consumer spending on various food items, including vegetables.

This is the lowest level since November 2014 when the retail inflation came in at 3.23 per cent.

Forex dealers said a higher opening in domestic equities and dollar’s weakness against some currencies overseas supported the local unit.

The rupee had ended lower by 12 paise at 67.54 on Tuesday on steady demand for the greenback from importers and corporates.

Meanwhile, the benchmark Sensex advanced 38.52 points, or 0.14 per cent, to 26,736.34 in morning trade.

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