Section

Rupee appreciates 10 paise to 83.53 against US dollar in early trade

By Business Standard - 3 days ago
The rupee appreciated 10 paise to 83.53 against the US dollar in early trade on Wednesday, on the overall dollar weakness in the overseas market. Forex traders said the US dollar has weakened against majors post the weak consumer confidence print. The US consumer confidence dropped by the most in three years to 98.7 from 105.6 in August. At the interbank foreign exchange market, the local unit opened at 83.59 against the American currency, then touched 83.54, registering a rise of 10 paise over its previous close. On Tuesday, the rupee depreciated 9 paise to close at 83.63 against the American currency. "The Indian rupee which depreciated on Tuesday opened stronger on the overall dollar weakness against Asian currencies and European currencies," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent to 100.25 points. Brent cru

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.