Rupee rises by eight paise against USD

Rupee rises by eight paise against USD

Agency News

Mumbai, Jul 5 : The rupee on Friday appreciated further by eight paise to 68.42 against the US Dollar, on renewed selling of US dollars by bankers and exporters, amid easing crude oil prices, dealers at the Forex Market said.

Easing crude oil prices and weakening of the greenback in overseas markets helped the domestic unit to gain, the dealers further said.

However, negative closing in domestic equities capped rupee to rise further.
The local unit opened weak at 68.55 at the interbank foreign exchange, down by five paise against Thursday, but as Finance Minister Nirmala Sitharaman presented her maiden budget, the local unit gained strength and touched a high of 68.40 against the US dollar, up by 10 paise over its previous close.

High fluctuation was seen during intra day session, as it registered the day's high and low at 68.77 and 68.40, respectively.On Tuesday, rupee had settled at 68.50 against the US dollar, up by 41 paise.(UNI)