Rupee rises by 50 paise against USD

Rupee rises by 50 paise against USD

Mumbai, Nov 9: The Rupee on Friday appreciated by 50 paise, to end positive at 72.49 against the US Dollar on increased selling of US dollar from exporters, dealers at Forex Market said.

The dollar's weakness against some currencies overseas, and easing crude oil prices supported the rupee,dealers said.

The US mid-tem election results, which showed Democrats wresting the House of Representatives from the ruling Republican party, also supported the rupee.

At the interbank forex market, the rupee opened strong at 72.65 up by 33 paise against its Tuesday close, following US mid-tem election results and easing crude oil prices.

The rupee moved in a range between 72.82 and 72.45 intraday.

The rupee had rebounded by 12 paise to end at 72.99 per US dollar on Tuesday, on increased selling of the greenback by exporters and softening crude oil prices.

The forex market was closed on Wednesday and Thursday, on account of 'Diwali' and 'Diwali Balipratipada,' respectively. (UNI)