The Indian rupee has rebounded 7 paise against US dollar to 70.14 in the early trade on Wednesday due to the fresh selling of American currencies by the exporters and banks amidst early gains from domestic equities.
Forex dealers stated that the weakness in the dollar rate against some overseas currencies supported the domestic unit but the rise in crude oil price and outflows in foreign fund facilitated the rise.
Initially ,at the forex,the rupee value started higher at 70.08 but later slipped partially quoting 70.14.The unit was also booked due to the higher opening of domestic equities market.
US president Donald Trump stated previously that the talks with Beijing on trade deal is going on very well. Following this, the rupee value plunged by 53 paise on Tuesday morning against the US dollars , following the rise in crude oil prices.
Forex dealers stated that the weakness in the dollar rate against some overseas currencies supported the domestic unit but the rise in crude oil price and outflows in foreign fund facilitated the rise.
Initially ,at the forex,the rupee value started higher at 70.08 but later slipped partially quoting 70.14.The unit was also booked due to the higher opening of domestic equities market.
US president Donald Trump stated previously that the talks with Beijing on trade deal is going on very well. Following this, the rupee value plunged by 53 paise on Tuesday morning against the US dollars , following the rise in crude oil prices.
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