Rupee's Gaining Trend Continues Amid Supercharged Volatility In Global Markets
NDTV
The rupee continued its strengthening trend, albeit only slightly, as stable oil costs offset any worries of fastest US inflation in four decades.
The rupee continued its strengthening trend on Friday, albeit only slightly, as stable oil costs have offset any worries of aggressive Federal Reserve rate hikes after data showed the fastest rise in US inflation in four decades.
News agency, Reuters, had the rupee last trading at 76.28, a gain of about 0.2 per cent from Thursday's close of 76.43, after opening at 76.43.
While PTI said, the rupee advanced a touch over 0.2 per cent to 76.27 against the US dollar in the opening trade on Friday, supported by positive domestic equities and a pullback in crude oil prices.
At the interbank foreign exchange, the rupee opened at 76.34 against the US dollar, then gained momentum and touched 76.27, registering a gain of 16 paise from the previous close. On Thursday, the rupee had appreciated by 19 paise to close at 76.43 per dollar, PTI added.
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