Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Rupee Firms Up 10 Paise Against Dollar In Early Trade

Dollar's weakness against other currencies overseas after Fed Chair Janet Yellen indicated the central bank would take a wait-and-see approach to monetary policy, suggesting any rate hikes this year could be slow, supported the rupee, says forex dealers

Photo Credit : Reuters

1484572050_MqXJ5w_Rupee_Reu.jpg

Rupee recovered by 10 paise to 68.03 against the US dollar in early trade on Friday (20 January) on fresh selling of the American currency by exporters.

Besides, dollar's weakness against other currencies overseas after Fed Chair Janet Yellen indicated the central bank would take a wait-and-see approach to monetary policy, suggesting any rate hikes this year could be slow, supported the rupee, forex dealers said.

However, they said, a lower opening of the domestic equity market, capped the gain.

The local unit had lost 5 paise to close at one-week low level of 68.13 in yesterday's trade.

The benchmark BSE Sensex fell 80.82 points, or 0.30 per cent, to 27,227.78 in early trade today.

(PTI)


Tags assigned to this article:
rupee dollar forex traders janet yellen