Rupee gains 8 paise on foreign capital inflows

Rupee gains 8 paise on foreign capital inflows
Rupee gains 8 paise on foreign capital inflows

The rupee rose by eight paise to 61.37 against the US dollar in early trade on Friday on sustained foreign capital inflows amidst a higher opening in the domestic equity market.

Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar’s firmness against other currencies overseas capped the gains, dealers said. Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added.

The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in Thursday’s trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time.

Rupee gains 8 paise on foreign capital inflows